April 2007


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Textile made-up exporters may lose $42 million

Textile made-up exporters may lose $42 million Pakistan’s exporters of textile made-ups may lose up to $42 million following the filing bankruptcy by ‘Best Manufacturing Group’ (BMG) of Jersey City, New Jersey, USA. BMG, which is USA’s largest manufacturer of table linen and napery for hospitality, healthcare and rental textile businesses, filed for Chapter 11 bankruptcy protection, listing liabilities of over $100 million, and assets of about $153 million. The Pakistani exporter said that although the market for Pakistan’s textile made-ups would remain intact, the new US importers, who would take the place of BMG, may have their own preferences for importing the items which were being imported by BMG from Pakistan. Besides, Pakistan’s exporters will have to make renewed efforts to find some sound and reliable US importers with whom they could develop business relationship.


 

 
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