Spain's textile companies has asked the government to save the industry by introducing an aid package similar to the EUR800m bailout package for the auto industry.
According to textiles lobby CIE president Angelo Asensio, the industry, including key players Dogi, Fuentecapala and Caramelo, is on the verge of bankruptcy due to the economic recession.
Asensio said any textile aid package will need to include measures to boost credit and financing lines to struggling producers but expected the sector will recover in H2 of 2010.
