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‘Tan Holdings’ commitment to NMI remains’
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Posted on Dec 05 2006
Despite the announced closure of its garment manufacturing operations on Saipan, Tan Holdings Corp. reaffirmed its “long-term commitment to doing business in the CNMI and in the region.”
The company said that, although Concorde has long been considered a “sister company” to Tan Holdings, the garment factory is a separate legal entity from the group of companies that does business in more than a dozen industries in the Western Pacific.
“The garment factory’s closure will not affect the operations of other businesses the company owns in the region,” it said.
“We have done business here now for 25 years on Saipan and 35 years in the region, and Tan Holdings remains very committed to these islands, which are our home,” said Tan Holdings president Jerry Tan.
“Our company philosophy is to make continuous improvements in whatever we do, and we will focus on areas where we see opportunities to grow and improve our business. We are, of course, saddened by this difficult decision of the factory, but recognize that this is the economic reality for that industry,” he added.
Headquartered on Saipan, Tan Holdings has made significant investments in tourism and a number of other businesses in the region, including insurance, logistics, and family entertainment.
Recent acquisitions and improvements have included the transformation of the two Dai-Ichi hotels in Guam and Saipan, which are now called Fiesta Resorts. It also acquired Saipan Grand Hotel and opened Century Tours, which caters to group tours from China.
In 2005, CTSI Logistics opened a state-of-the-art regional distribution center in Guam. Last month, another Tan Holdings affiliate, Tango Theatres, celebrated the grand opening of its new theatre at the Agana Shopping Center. [B][I](PR)[/I][/B]
