Unitika aims to increase stake in Indonesian fabric producer


Press reports in Indonesia suggest Japanese textile manufacturer Unitika is looking to increase its stake in local fabric maker Unitex.

Unitika already has close to a 70% stake in the Indonesian producer and is reported to be offering to pay IDR4.4bn (US$330,000) for most of the remaining shares it does not own in Unitex, in a move to delist the subsidiary from the Indonesia Stock Exchange.

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