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Sritex to enhance its business in EU to acquire German Uniform producer

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Sri Rejeki Isman better known as Sritex, one of Indonesia's vertically integrated leading textile and garment manufacturers, plans to acquire a German military uniform manufacturer. The aim of this acquisition is to enhance Sritex' business in the European Union.

Iwan Kurniawan Lukminto, Vice President Director of Sritex, said that the acquisition of the German company should be completed in 2017. The German uniform manufacturer will be the "extended arm" of Sritex in Europe. Currently, about 15 percent of Sritex' total export revenue is generated from shipments to Europe.

Sritex plans to expand its export market to five more countries this year

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Sri Rejeki Isman, known as Sritex a leading vertically integrated textile and garment company in a bid to boost its total revenue by a minimum 10 percent this year is planning to expand its export market to at least five more countries.

Kosovo was the company’s newest overseas market, the country in the first quarter ordering military uniforms, which contributed 20 percent of Sritex’s total sales last year. Next is Cambodia, which is expected to buy 100,000 military uniforms, said President director Iwan Setiawan Lukminto.

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