Weak demand for clothing hits Toray
16/02/2009
The Textiles & Fibres business of Toray Industries has suffered a drop in sales of 6.8% for the nine-month period ending on December 31 to just under $5 billion. Over the same period, operating income fell by 32.6%.
After remaining strong through the first two quarters, sales of products for industrial applications, especially in Japan’s automotive sector, declined from the third quarter as the global economic slowdown took effect, the company said. It added that materials for apparel applications remained sluggish, reflecting what it regards as weak demand for clothing.
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