Unitika aims to increase stake in Indonesian fabric producer

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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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