Teijin sets up RI venture<\/p>\n
TOKYO (AFP): Japanese textile manufacturers Teijin Ltd. and
\nNisshinbo Industries Inc. said yesterday they would set up a
\ntextile dyeing venture in Indonesia in January next year.<\/p>\n
PT Gistex Nisshinbo Indonesia will be capitalized at $10
\nmillion, with plans to set up a dye works in Bandung on the main
\nisland of Java at a cost of $15 million, the two Osaka-based
\ncompanies said in a statement.<\/p>\n
The venture will be controlled 60 percent by Nisshinbo, 30
\npercent by PT Gistex of Indonesia and the remaining 10 percent by
\nTeijin, Japan's largest polyester manufacturer.<\/p>\n
Under the plan, cotton textiles produced at Nisshinbo's other
\nAsian factories and polyester fiber made by Teijin will be
\nprocessed and dyed at the plant, where 250 people will be hired.<\/p>\n
The venture plans to start operations in October next year
\nwith monthly capacity to dye 2.5 million meters (8.25 million
\nfeet) of fabric, targeting sales at three billion yen ($23.8
\nmillion) a year by 2000.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/teijin-sets-up-ri-venture-1447893297",
"image": ""
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