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August 25, 2008

Adidas to end contract with Indonesia's Inreksa
Adidas group, the world's second-largest sportswear manufacturer, will end contract with Indonesian shoemaker Prima Inreksa Industries in December, local daily The Jakarta Post reported Saturday.

Chief of representative of Adidas Group Indonesia Georg Krebelder said both sides had signed an agreement, marking the termination of partnership.

"The final date for the termination of the business relationship, however, remains unchanged: That is December 31, 2008,"the representative was quoted by the Jakarta Post as saying.

Adidas Group ordered 201 million pairs of shoes from the Indonesian shoe industry last year.

The group had been ordering 500,000 shoes per month from Prima since 1997 before it first aired the idea of terminating the partnership in July, because Prima had been implicated in debts.

Prima is one of six Indonesian companies manufacturing sport shoes for Adidas.

Last year Prima owed $37.25 million to state lender Bank Negara Indonesia (BNI) and $8 million to suppliers.

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