Textile plants go under

Textile plants go under

SEMARANG: Four more textile plants in Solo, Central Java, have
gone under because they were not able to compete under
increasingly costly conditions.

Sources at the Central Java Industry Office identified the
four companies as Garuda Teks, Batari Teks, Putu Teks and Naga
Teks. Their closure comes on the heels of the closing of the
province's oldest textile company, PT Swasembada Sandang.

The sources said that the four companies cited soaring power
costs and raw material prices as the main reasons for their
bankruptcy. (wah/emb)