Taipei Times
Date: Feb 27, 2017
By: Staff writer, with CNA
Textile manufacturer Lealea Enterprise Co (力麗) on Saturday said it would set up its first overseas factory in Indonesia this year.
Chairman James Kuo (郭紹儀) has made investing in Indonesia one of Lealea’s strategic priorities and set the goal of launching operations at the Indonesian site in the second half of the year, the company said.
Taipei-based Lealea, which makes polyester filament yarns and polyester chips, signed a memorandum of understanding with PT Taroko Indonesia and is to spend up to US$50 million to acquire PT Taroko’s production facilities in Bandung, Indonesia’s third-largest city.
PT Taroko is a joint venture between Taipei-based Taroko Textile Co (大魯閣纖維) and Nan Ya Plastics Corp (南亞塑膠), a Formosa Plastics Group (台塑集團) subsidiary.
[FULL STORY]