Wed, 23 Aug 2000

Super Mitory boosting sales

JAKARTA (JP): PT Super Mitory Utama, a publicly-listed producer of sports shoes, filament yarn and fabric mainly destined for the export market, expects much better sales this year due to higher polyester prices, the company said in a statement.

Super Mitory told a press briefing on Tuesday that it expects total sales of US$96.5 million this year on 80-percent capacity utilization in both its footwear and filament yarn units.

It said that it expects total sales to rise to $116.2 million in 2001 when its footwear unit will be operating at 85 percent capacity, the filament yarn unit at 82 percent and the fabric unit at 65 percent. It forecast total sales of $151.5 million for 2002 when its three plants will be operating at over 80 percent capacity.

The company added that it had hired Deloitte Touche Tohmatsu, an independent firm of consultants, to advise on its business and restructuring plans.

"The Indonesian Bank Restructuring Agency, as our largest creditor, has approved the appointment of the independent consultant. And we hope to be able to report in the near future to the Jakarta Stock Exchange management on the progress of our restructuring program," Super Mitory director Hendro Sutjipto said.