Home / Knowledge / News / Textiles / Kherson cotton unit to halt production till April 1
Kherson cotton unit to halt production till April 1
16
Feb '11
OJSC Kherson cotton factory's supervisory council has taken the decision to stop its production till April 1, 2011.

A posting on the State Property Fund's (SPF) website revealed that the factory is likely to pay two-third wages to its workers during the interim period.

At present, the SPF holds more than 25 percent share of the factory. The decision has been taken by the supervisory council of the factory at a meeting held recently.

As per the posting, the key factors that led to the above decision are the three-fold hike in the prices of raw materials that are imported from abroad, the company's insolvency and a lawsuit that asks for the return of 51.76 percent share of the factory to state authority.

The cotton producing unit has been established way back in 1954. It continued to be one of the biggest cotton manufacturers in Europe.

Presently, SPF holds more than 25 percent share of the company, while 51.76 percent share is with PJSC Volyn silk factory (Lutsk).

Fibre2fashion News Desk - India


Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Tim Savage from Pexels

Textiles | On 19th Jun 2018

Da Lat begins construction of $50mn wool yarn factory

Da Lat Worsted Spinning Limited Company has begun construction of a...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search