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| Sunday, 28 December 2003 |
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Tri Star re-opens seven 'dormant' factories The Tri Star Group the largest single garment manufacturing combine which pioneered locating export-oriented garment factories in rural Sri Lanka forced to close down several of its factories due to financial constraints, has re-opened five factories with two more scheduled to be opened before 2004. The group experienced financial problems in the recent past due to withdrawal of quotas, and market turbulence and high interest rates. However, the company has been able to make a satisfactory turnaround production-wise as well as increasing revenue this year, according to its Chairman Kumar Dewapura. Mr. Dewapura said that because of an aggressive marketing strategy and upgrading of its production facilities with new and state-of-the-art machinery, the company had been able to secure increased orders from reputed buyers in Europe and USA. It has received substantial orders for Cut and Manufacture (C&M) of garments with the fabric supplied by the foreign buyers. As a result the company has been able to re-commence production in five factories it was forced to close down last year with two more to be re-opened before end of this year. The factories opened are at Badulla, Hasalaka, Buttala Bandarawela and Welimada. Two other factories lined up for re-opening are at Kamburupitiya and Ambalantota. |
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