Daiwabo halts RI expansion

Sat, 13 Sep 1997, 00:00 WIB | Source: REUTERS

TOKYO (Reuter): Daiwabo Co Ltd said yesterday that it has
temporarily halted the transfer of spinning and weaving
facilities in Japan to its Indonesian factory due to the economic
turmoil there.

A spokesman for Daiwabo said the company had been moving the
facilities at its Izumo factory in western Japan to Indonesia
since 1995 in order to improve the quality of textile products at
its overseas plants.

"But due to deterioration of the local market as well as the
recent currency turmoil, we have been unable to increase
production there," he said.

He added that the company was also conducting a feasibility
study on other Asian countries for a possible new production
site.

View JSON | Print