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Appeal for Govt bail-out of Melba textiles
24 Feb '09
1 min read
Melba Industries, manufacturer and exporter of high performance protective, automobile and industrial fabrics has been running heavy losses, due to which the company has been referred to administrators.
The company achieved sales of Au $50 million last year, but was unable to generate profits from the same. The administrators though have appealed to the Australian government to revive the company, by providing assistance.
Melba is the exclusive supplier of protective fabrics for the fire brigade and armed forces of the country and employs around 250 people. Meanwhile, the administrators are exploring all opportunities to ensure that the company is revived.
The company achieved sales of Au $50 million last year, but was unable to generate profits from the same. The administrators though have appealed to the Australian government to revive the company, by providing assistance.
Melba is the exclusive supplier of protective fabrics for the fire brigade and armed forces of the country and employs around 250 people. Meanwhile, the administrators are exploring all opportunities to ensure that the company is revived.
Fibre2fashion News Desk - India
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