Super Mitory boosting sales

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.