PT. Sunson Textile

completed

This investment entails a financial restructuring for PT Sunson Textile Manufacturer Tbk (the Company), which is an integrated textile producer located in Bandung, West Java, Indonesia. Founded in 1972, the Company is one of the largest cotton spinners in Indonesia. Cotton yarn production constitutes 70% of revenue. Grey fabrics (18%) and finished fabrics (12%) complete the mix of products. Yarn and fabrics are manufactured in three facilities: Karawang, Cijerah, and Rancaekek. Karawang (oldest weaving, dyeing and finishing equipment) was closed in August 2000. Cijerah (older weaving, texturizing, and knitting equipment) is situated on 2.7 hectares, employs approximately 1000, operates on power from the public grid (PLN) plus backup power, and is serviced by Bandung public utilities. Rancaekek (modern spinning, weaving and fabric treatment) is situated on 40 hectares, employs roughly 4000 (including recent expansion to 175,000 spindles), operates on power from PLN plus emergency generators, and is serviced by a combination of Bandung public utilities and Company processes.