Fruit of Loom - the Australian textile company has made up its mind to shut down both of its Ireland factories and relocate them in Morocco. In its statement the company has reportedly said that Ireland was no longer a cost-effective base for it's spinning, knitting and dyeing operations. It is
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| reported that heavy discounting in the European clothes markets, together with increasing wages in Ireland and WTO's decision to do away with quotas on Asian imported products had encouraged the Australian company to make this move. Fruit of Loom that produces under-wears, T-shirts and other textiles products, was once the largest textile employer in Ireland. 
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