Sangam inks strategic pact with Riopele Texteis SA

Mumbai, June 21: Textile manufacturer Sangam India has entered into a strategic alliance with the Portugal-based Riopele Texteis SA, wherein the latter would source high-value 'polyester viscose bi-stretch lycra' from the former, and Sangam would seek technical expertise and designing pattern from Riopele.

The alliance initially will be for a period of one year, and will be subsequently mutually renewed, subject to satisfactory performance, a Sangam press release said.

Riopele Texteis SA has an annual turnover of Euro 64 million, with a composite production facility and is a leading supplier to various leading retail chains in Europe and USA, the release added.

UNI