Great River to procure new machine, complete facilities
Great River to procure new machine, complete facilities
JAKARTA (JP): PT Great River Industries, a producer of brand
name garments listed on the Jakarta and Surabaya stock exchanges,
will procure new sewing machines and complete facilities for new
branded garments in anticipation of increased demand.
"We plan to increase our sewing machines from 6,500 to 7,000
due to the increasing domestic and foreign market demand," Great
River's president, Sunjoto Tanudjaja told reporters here
yesterday after the company's shareholders meeting.
Sunjoto said the company will also construct a new factory on
a 30-hectare site in Purwakarta, West Java and complete
facilities for new branded garments in its seven-hectare
industrial estate in Cikarang, Bekasi, about 40 kilometers east
of Jakarta.
He said the company has increased its spot sale chains from
200 to 250, its representation from 5,200 to more than 6,000
direct customer accounts and its sales offices from 12 branches
to 14, including one each in Singapore and Malaysia.
Sunjoto said the expansion program will cost about Rp 40
billion (US$18.54 million) which will be funded largely by the
company's retained earnings.
Sunjoto said the company's after-tax profit grew 3.4 percent
from Rp 8.38 billion ($3.88 million) in 1992 to Rp 8.66 billion
($4.01 million) last year.
The president said with the expansion program, the company
expects to increase its production capacity form 18 million
pieces last year to 25 million. 40 percent of the company's
production capacity is for exports, Sunjoto added.
"With this expansion, we have projected that our sales this
year will increase to Rp 160 billion ($74.14 million) and our
profit to Rp 10 billion ($4.63 million)." Sunjoto said.
Sunjoto also said the shareholders' meeting approved the
distribution of a cash dividend of Rp 50 per share.
The company holds licenses or acts as the agent for 27 brand
names, including Triumph and Amo of Germany, Arrow and Donna
Karan of the United States, Choya and Junko Koshino of Japan,
Saville Row of Britain, Hom and Kenzo of France and Benetton of
Italy.
The company's products include men and women undergarments,
sportswear, including sports shoes, children's wear, non-garment
textile derivative products and cosmetics. (02)