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Japan:Industry veteran Kanebo says “goodbye” to textiles |
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2005-3-18
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A 116 year old saga in textiles will come to an end as Kanebo Ltd, struggling under a state-backed rehabilitation program, will spin off its textile business and transfer it to a joint company to be established by Kanebo and dyeing and finishing company Seiren Co, both companies announced Wednesday.
Kanebo will now focus on setting up its profitable daily commodity, pharmaceutical and food businesses, Kanebo President Akiyoshi Nakajima said.
Speaking about the process of restructure Nakajima said, "We thought maintaining highly skilled human resources was the most important point."
"I think we found how to accomplish it through talks with Seiren," he concluded. |
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