Article: Textile industry bets on exports.

Chile, Apr 14, 2003 (Estrategia/SABI via COMTEX)

Mario Garcia, head of Chile's textile industry association, has admitted that textile companies have been forced to invest in new technologies in order to be able to face increasing competition from Asia-based rivals. Mr. Garcia has also said that a vast number of small and medium-sized companies have closed their doors due to fierce foreign competition and that a number of others have been sold, including Textil Vina, which is currently controlled by Falabella; and Machasa, which is currently owned by Santista (45%), Bunge (45%) and Bradesco (10%). Bellavista Oveja Tome, which faced a difficult phase in the ...

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