INDONESIA: PT Sarasa Mitratama, PT Sarasa Nugraha To Merge
Garment makers PT Sarasa Mitratama and PT Sarasa Nugraha, which are both owned by the same parent company, were on Thursday agreed a merger plan in a bid to increase their efficiency in a competitive export market.
The Asia Pulse newspaper reported shareholders had voted in favour of the plan as competition is tight in the US market and the deal will allow them to expand into other international markets.
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