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Home arrow Latest News arrow Sritex Sets to Sales rinse in 2017

Sritex Sets to Sales rinse in 2017 PDF Print E-mail
Written by Maizer   
Friday, 30 September 2016

PT Sri Rejeki Isman Tbk or Sritex (SRIL) will conduct trial on its newly established factory in Solo, Central Java in the beginning of 2017, while the company plans to start the factory operation in the middle of 2017. The new factory is predicted to support the company to meet the target of 8%-12% in sales in 2017. SRIL projects that the new factory may increase the productions of spinning and weaving by 16% to 654,000 bales per year and by 50% to 120 million meter per year, respectively.


During the period, the productions of dyeing and finishing, as well as manufacturing garment will raise by 100% to 240 yard per year and by 67% to 30 million pieces per year, respectively.


Recently, Sritex is installing number of new machines in the new established factory. “We have purchased all (necessary) machines,” said the President Director of PT Sri Rejeki Isman Tbk Iwan Setiawan Lukminto.


Corporate Secretary of Sritex, Welly Salam said that the company has allocated US$20 million of US$60 million of 2016 capital expenditure for purchasing weaving and spinning machines. Welly added that Sritex is projected to cost US$10 million to US$15million of the next year’s capital expenditure for machines’ maintenance.


Sritex expects to book 5%-8% of sales growth and 7%-14% of net profit in 2016.  Sritex also projects that the segments of fabric and garment will contribute to 50% of total sales in 2016. During the first semester of 2016, the two segments contributed to 46.89% of US$371 million of total sales.


Sritex applies business to business method in selling its fabrics. One of its clients is PT Pan Brothers Tbk that processes Sritex’s fabrics into various garment products of H&M. Another Sritex’s client is Corps of Indonesian Civil Servant (KORPRI).


Recently, Sritex has diversified its products to bag, backpack, sleeping bag, hand glove, tent, integrated personal protection set (IPP set) that is special for soldier, as well as chemical, biological, radiation, and nuclear (CBRN) cloth. To date, the diversified products contributed to 2% of Sritex’s total of sales.


Sritex is now  joining bidding processes for domestic and overseas fire brigade’s clothes. According to Welly, if Sritex is successful in the bidding process, the contribution of diversified products to the company’s total of sales will increase by 4%.


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