INDONESIA: Ever Shine Slashes Capacity On Gloomy Outlook
Indonesian textile producer Ever Shine Textile Industries is to slash its production capacity to 80 per cent from 90 per cent due to sluggish demand from the global market. The company blamed its decision on weakening demand. Of its current output capacity, 42 per cent is allocated to the export market, with Europe and the US receiving 10 and five per cent of its total exports, respectively.
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