Trident towels to invest 9.5 Bn in new facility

Thursday, 25 October 2007, 07:00 Hrs
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Chandigarh: Punjab-based towel manufacturer Abhishek Industries, the flagship company of the 15 billion Trident group, Wednesday announced setting up of a new spinning and textile facility worth 9.5 billion to meet the growing demand for its products, especially terry towels.

Trident exports terry towels to leading chain stores like Wal-Mart, J.C. Penny and Harrods, and to some of the finest luxury hotels.

The new facility will be set up in Budni in Madhya Pradesh. It will be commissioned by March 2009, a company spokesman said here.

Trident Group is among the top five terry towels producers in the world and is a leading supplier to the who's who of the international retail market.

It exports towels to over 40 countries across five continents with over 75 percent of exports to highly cost-competitive and quality conscious markets in Europe and the US.

"The new facility will provide us economies of scale and help in catering to the captive consumption by our textile division as well as niche markets in India and abroad for maximum value addition," group CEO and managing director Rajinder Gupta said.

The new unit will support 108,000 spindles and 400 looms. Currently, the company has a facility of 125,952 spindles at Barnala in Punjab, which is the largest spindlage in India at a single campus.

The new facility will help the company nearly double its yarn capacity to 233,952 spindles. The total production of yarn after expansion will be 180 tonnes per day, placing the company amongst the top three yarn manufacturers in India.

The company was given the international supplier award by Wal-Mart in 2001, 2003, 2005 and 2006 and by J.C. Penny in 2006.
Source: IANS
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