Sangam alliances with Riopele Texteis S A
New Delhi, June 21: Textile company Sangam India Ltd today said it has entered into a strategic supply agreement with Portugal-based Riopele Texteis SA.
Under the agreement, Riopele Texteis will outsource high value added polyester viscose bi-stretch lycra fabrics from the company.
In turn, the company will outsource technical expertise and designing pattern from Riopele Textels S A, a statement said.
''This is the first step towards our vision to expand in the global markets with high value added product such as poly-viscose bi-stretch fabrics segment,'' said Sangam India Ltd Chairman R P Soni.
Initially, the agreement will be for a period of one year and subsequently will be renewed mutually based on performance.
Riopele Texteis SA, with an annual turnover of euro 64 million, is one of the largest manufacturer of high value added polyester-viscose bi-stretch yarns and fabrics company.
It has composite production facility and is a leading supplier to various leading retail chain in Europe and the US.