Spentex triples cotton yarn capacity to 1,59,440 spindles
Mumbai, May 04 (UNI) Delhi based Spentex Industries Ltd, the textile arm of CLC group has tripled its cotton yarn manufacturing capacity from 55,440 spindles to 1,59,440 spindles with the installation of additional 50,000 spindles at Solapur in Maharashtra.
Also, the commercial production of cotton yarn at the recently acquired Tai Chonbang Textile Industries Ltd at Sanand, Ahmedabad has commenced with effect from May 2, 2006, giving support to the Spentex drive for capacity enhancement. The full capacity is however likely to be achieved in another 30 days.
Talking to UNI, company's group chief finance officer Amrit Agrawal said, ''Company's expansion plan of 36000 spindles of value added cotton yarn at Baramati in Maharashtra is in full swing and will commence commercial production in another two or three months, which will add to our total capcity.'' adding '' in addition to that Spentex has also acquired majority stake in Indo-Rama Textiles and in Amit Spinning recently.'' Indo rama textiles has a manufacturing plant at Pithampur(Indore) and Butibori (Nagpur) having 1,22,976 spindles, whereas Amit Spinning is engaged in manufacturing of cotton yarn with a capacity of 30,672 spindles in Kolhapur, Maharashtra. Together the two plants have helped Spentex to become one of the largest manufacturer of combed cotton yarn in India, he added.
Spentex has also recently executed protocol of intent with state joint-stock company 'o'zbekyengilsanoat' of Uzbekistan for acquiring/establishing of textile production facility of cotton spun yarn in Uzbekistan for which necessary approval would be taken in due course, Mr Agrawal said UNI VS PM AW1559