URUGUAY: Korean Firm Sets Up Sweater Factory
An unnamed South Korean textile company is to invest $15.6 million in a new garment plant in Uruguay. Reports say the firm will produce pullovers and acrylic sweaters at the Colonia City factory and export 95 per cent of the production to the US and Mexico. Its annual turnover will be $3m in the first year and will then rise to $20m by 2006.
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