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Article: Blow molded furniture biz takes hit in China.(News)
- Article from:
- Plastics News
- Article date:
- March 30, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Steve Toloken
Stung by reduced demand from big U.S. retailers like Wal-Mart and Target, Lin Wen-Sheng's Taiwanese-owned plastic and metal furniture business is down 50 percent from a year ago and his factory in mainland China has cut its workforce to 1,300 from 2,400.
Lin's company, Dongguan ShiChang Metals Factory Ltd., is not alone. China's export sector has been hit hard overall exports dropped 18 percent in January compared with the same month in 2008. Taiwanese exports plunged 41 percent and Japan's exports saw a one-month record drop of 45 percent.
During a Feb. 25 interview at his blow molding factory, Lin said that one of his ...