Another Saipan Garment Factory To Close
(Marianas Variety)
Another Saipan garment factory is closing the seventh this year to shut its doors, the Marianas Variety reports.
Kyung Seung Saipan, Inc. will lay off 141 alien workers and 13 residents, the newspaper reports. The factory will close on May 24.
Richard W. Pierce, the company's legal counsel, blamed rising costs and low prices for its good for the decision to close the factory.
The once booming garment industry in the Northern Marianas began contracting following a 2005 decision by the World Trade Organization that removed the U.S. island group's duty advantages. Twenty-five Saipan garment factories have closed since 2005.
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