Raymond to become world's largest worsted suiting producer

Mumbai, Mar 30 (UNI) Indian textile major Raymond will become the world's largest integrated player of worsted suiting fabric, following the inauguration of its latest worsted suiting facility at Vapi in Gujarat.

The plant, located over 112 acres, possesses a manufacturing capacity of three million metres per annum and will enhance Raymond Ltd's total output to 28 million metres per annum.

A press release issued here today said, the first phase of the plant incorporates warping, weaving and finishing and the best available machinery in the field has been imported and installed in the facility.

Warping machines have been imported from Switzerland, weaving machines from Belgium, finishing and automatic drawing-in machines from Italy, the release said.

On the occasion, company's Chairman and Managing Director Gautam Hari Singhania said, ''The additional investment in our Vapi plant will enhance our worsted suiting capacity, thus giving impetus to the company's buoyant textile business.'' In the second phase, expected to go on stream from April next year, Raymond will be further enhancing its worsted suiting capacity by three million metres, thereby achieving a total capacity of 31 million metres per annum.

The cost of expansion in the second phase has been pegged at Rs 197 crore.

With a capacity of 28 million meters of wool and wool-blended fabrics, Raymond has over a 60 per cent market share in worsted suitings in India.

The Raymond group, with a turnover of Rs 2,000 crore, has business interests in fabrics, readymade garments, designer wear, denim, cosmetics and toiletries, engineering files and tools, prophylactics and air charter operations.

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