Transforming Textiles: Italian textiles are sure to experience a tough year in 2009, but how puickly can they recover?

摘要

During 2008, Italian cotton yarn spinners found themselves once again in a highly competitive market in which only the most efficient and financially strong could compete and survive. The escalation in prices for raw materials during the first two quarters, particularly for cotton, very expensive energy utilities costs and the unfavorable Euro/Dollar exchange rate, combined with the chronic inability of our spinners to pass on to their customers the full degree of increases, has caused more than a few companies (including two units of one of the largest groups) to turn out the lights and lock the doors forever.