Misgav - Tefron continued its slow journey
to recovery this week after seeing its much publicised cost cutting and
restructuring program help narrow its loss for the fourth quarter.
After stepping back from the brink of
financial meltdown in January when its main lenders accepted the company?s
proposed operating strategy for 2010, the cost reduction program has helped the
intimate apparel and seamlesswear maker cut its 2009 losses by almost
50% to US$4.7 million from US$8.8 million in the fourth quarter of 2008.