Pacific Textiles (01382) announced that due to the invasion of Super Typhoon Morakot on September 7, 2024, the factory in Liwu commune, Hainam, Vietnam, has suspended production due to business interruption, damage to production facilities and inventory. The operations of the group's other two production plants remain normal.

Upon preliminary assessment, the temporary shutdown of the Hainam factory in Vietnam is estimated to last approximately four weeks, potentially resulting in a decrease in production of about 2.2 million pounds and delaying the delivery of products from the Hainam factory in Vietnam.

To mitigate losses and minimize the impact of the temporary shutdown on customers, the company has quickly reassigned production orders to its factories in Guangdong Province, China, and in Namdinh Province, Vietnam. The group's management is supervising the reallocation of resources and making every effort to ensure that customer orders are completed on time or with minimal delay, if any.

Business interruptions and damage to property and inventory have been reported to the relevant insurance brokers and insurance companies. As of the date of this announcement, the company is closely liaising with insurance brokers and insurance companies, while the financial impact of Typhoon Morakot is still being assessed.

The company has established a special task force led by the Chairman and is taking focused measures to quickly restore production at the Hainam factory in Vietnam. The board of directors will continue to evaluate the impact of the temporary shutdown and closely monitor the progress of resuming production at the Hainam factory in Vietnam.