JAPAN: Kurabo shuts two domestic textile plants
Japanese textile giant Kurabo Industries has announced it is to shutter two of its five domestic plants and move some of its production to SE Asia.
The Osaka-based company will shut down two of its facilities in Mie prefecture and Okayama prefecture as part of a structural reform of its cotton, synthetics and wool businesses.
The two plants are scheduled to be closed at the end of June and much of those non-wool operations transferred to its overseas affiliates in Thailand, Indonesia and China.
Manufacturing of wool yarn, mainly carried out in Mie, will cease altogether, said the company, as it is unprofitable. Karabo has 31 subsidiaries and five associated companies in Japan and throughout Asia.
By Michael Fitzpatrick.
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