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Garment companies closing down manufacturing facilities
30
Dec '08
Many of the Taiwanese garment companies, in order to cope with the global financial meltdown are pulling down their shutters of production bases located in different countries.

Makalot Industrial Co Ltd, with principal activities of manufacturing, processing, wholesaling and exporting apparel, is for the first time facing negative pressure of revenue growth since its inception.

To deal with the current crisis the Company has decided to close its plants in Cambodia, the Philippines and in China laying off nearly 1,500 people. Makalot Industrial Co Ltd manufactures active wear, blouse, dress, knit top, pants, skirt and sleep wear.

In addition to this, another company Tainan Garment Factory also closed its factory in Jordan; Nien Hsing Textile Co Ltd has gradually shut down five garment factories in Nicaragua, and has transferred all their production bases to Vietnam in order to reduce costs.

It highlights the impact of global economic recession on garment factories. Enterprises are forced to slash down part of their overseas production lines to weather through this cold market scenario, due to substantial drop of orders.

Fibre2fashion News Desk - China

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