Textile garments manufacturer, Grace International will be the 14th factory to close down in Saipan since January 2005.
Company official said that decline in garment manufacturing business and orders, made it impossible to continue trading in Saipan. About 100 workers will be unemployed with this closure.
With the expiry of trade quota in January 2005, many Third World countries are exporting their garment products to the US. As a result, many garment factories in the CNMI are closing their operations.
The company has decided to shut down by next week. With this shutdown, Saipan will be left with only 19 garment factories open.
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