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Sunlots, once one of Taiwan’s leading tanneries, with facilities in China and Thailand is closing their tannery in Taiwan due to a lack of profits.
According to a report on Hidenet, it is not a matter of insolvency but shareholders are complaining of an inadequate return on their investment.
In a letter to their leather customers in mid August, the Company said that they plan to maintain current production until October, stop receiving hides at the end of September, and to fulfill all outstanding leather orders. The Company is processing around 20,000 hides a week, which were manly US steers. Sun Lots will continue to operate a joint-venture tanning operation in China and they also other ventures through Tong Hong in Vietnam and Indonesia.comments powered by Disqus