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Lankan company Textured Jersey weathers downturn

Textured Jersey Lanka’s well diversified business with big clients in the United States has helped it weather the downturn in European demand. TJL is a Sri Lankan fabric manufacturer. It managed to reduce energy costs to help counter eroding competitiveness against other origins with cheaper labor and power costs.

The company’s commissioning of its own coal power plant has helped reduce energy costs. Other initiatives to enhance profitability in the near term include continuous focus on enhancing efficiencies and increasing value addition to products to offer more customised solutions. TJL expects its focus on technology and expansion as a regional player to be key solutions to meet rising labor costs, in order to sustain growth in the near to medium term future.

Sri Lanka’s reputation and track record as an investment friendly destination, and as a manufacturer for a large number of the world’s leading apparel brands, continue to make it an attractive destination for inflows of new investments by overseas apparel manufacturers. But the country’s high labor and energy costs continue to be a challenge which dampens its cost competitiveness for all manufacturing industries. Its global competitiveness as a manufacturing destination is being challenged with the opening up of new destinations such as on the African continent, and some South Asian and East Asian nations which enjoy lower costs of production.

 
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