New Delhi, Oct 25 (UNI) To expand its footprint into the growing Indian market, International Textile Group Inc (ITG) has announced that its Burlington Worldwide (BWW) division has entered into a marketing and commercial partnership with OCM India Ltd.
Under the agreement, BWW will provide technical and manufacturing support to OCM in the development of advanced manufacturing processes and operations and the development of new wool fabrics with opportunities to promote and use fabric technologies developed by BWW.
BWW will develop and operate an export programme for the sale of OCM products to the US, European and Asian markets.
OCM will be licensed to produce and sell enhanced wool fabrics under the 'BURLINGTON' brand name to the domestic Indian market.
OCM is a leading Indian manufacturing company of worsted wool fabrics located in Amritsar and like ITG, OCM is majority-owned by WL Ross and Co LLC of New York.
''This is a tremendous opportunity to expand ITG's footprint into the growing Indian market and provide an additional supply chain of products for the US and European markets. Agreement with BWW will further OCM's operations and breadth of product to grow a global wool platform for both companies,'' said Mr Wilbur L Ross, Jr Chairman of ITG in a statement received here today.
Mr Rajeev Surana, CEO, OCM said that ''this alliance can contribute immensely in lending it an international edge. The technological capabilities and global experience of BWW coupled with OCM's core strengths will enhance the aspirational value of the brand and its products''. UNI