Israeli textile industry hit hard by World recession
Israel's textile and fashion industry has been one of the worst-hit industries by the recession. Offis Textile Ltd. president Ramzi Gabbay, who serves as chairman of the Textile and Fashion Industries Association of the Manufacturers Association of Israel, said that the industry was in the throes of its worst…
Egytex News Desk
Egytex
Layoffs were made by Gibor Sport Active Wear which fired 450 employees; Tefron Ltd, which fired 300 employees; Arad Towels Ltd. - 165 employees; Molitan Ltd, Delta Galil, Bagir Ltd., and and Gilon Sportswear Ltd. - 50 employees each; and Nilit Ltd. unit Hanit Fibers Ltd. - 23 employees.
Gabbay added that textiles and fashion sales fell by a nominal 12% in 2008, compared with 2007, to NIS 8.4 billion, and that domestic textiles sales fell 13% to NIS 4.7 billion. The only good news was a 2.5% increase in dollar terms in exports to $1.04 billion. Israel exports textiles and fashion products to 114 countries.
From the Egytex news archive, first published on 6 March 2009. Figures and names are as reported at the time.
