Pan Brothers to Invest $40m by 2017, Hire 27,000 Workers
Jakarta. Pan Brothers, one of Indonesia's largest garment and textile producers, plans to invest $40 million over the next two years to increase its production capacity, an executive said on Friday (12/02).
"The investment is part of our plan laid out early this year, to increase garment production capacity," said Anne Patricia Sutanto, vice chief executive officer of Pan Brothers.
The company sells virtually all of its products abroad, supplying global brands such as Calvin Klein, Tom Tailor, The North Face, Hugo Boss, Nike, Adidas, H&M and United Colors of Benetton.
Anne did not say whether the company plans to open new factories or expand existing ones, nor did she reveal the funding source for the investment.
Pan Brothers has spent $34 million in the last few years to build four new factories. Anne said the company is seeking to strengthen its capability in making lifestyle products, coats and polo shirts.
It also aims to double the number of its workers to 50,000 by 2017, from the current 23,000, Anne said.
Pan Brothers and its industry peers, like Sri Rejeki Isman, Sritex and Unitex, stand to benefit from government's plan to join free trade agreements with the European Union and Trans Pacific Partnership.
"It will make our product more competitive," Anne said.
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