NETHERLANDS ANTILLES: Mexico Unit Pushes Singer To Q1 Loss
Leading sewing machine maker Singer NV on Thursday revealed it will post a first quarter loss of $10 million due to escalating "liquidity, operational and management" problems at its Mexican subsidiary. The company said in a news release the problems began in the second half of 2002 and worsened in the first three months of the current fiscal year which will lead it to report its first quarterly loss for almost three years.
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