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Our Bureau

To unveil new logo this week, include value-added fabric, garment exports

New Delhi , Sept. 11

RSWM Ltd, formerly Rajasthan Spinning and Weaving Mills Ltd, will unveil its new logo this week in keeping with the company's plans to overhaul its image, exit its regional identity and aggressively expand its portfolio to include value-added fabric and garment exports.

"We are bringing about a complete change in the company internally and externally," said Mr Riju Jhunjhunwala, Joint Managing Director RSWM Ltd. Apart from the new logo, meant to denote a rich heritage and a sleeker organisation, the company is in the process of unfolding its Rs 900-crore capacity expansion programme that was approved at the last board meeting in July. The Rs 900 crore will be tapped through debt and internal accruals. "While Rs 400 crore will be from internal accruals, the rest of the Rs 500 crore will come from banks, said Mr Jhunjhunwala, adding that the entire finance will be tied up before March 2007.

The money is to be used for expanding capacity at its five yarn units and for the construction of its new denim plant at Mordi, Rajasthan, which will produce value-added denim fabric.

New divisions

The company now has two new divisions, LNJ Denim, linked to the denim plant and LNJ Apparels, linked to its new garment exports unit. The company started the manufacture of garments for export from January this year from its new facility in Bangalore and is currently manufacturing for retail chains such as Marks & Spencers and Hagger. The company clocked a turnover of Rs 1,000 crore during the previous fiscal. According to Mr Jhunjhunwala, the company would be looking at inorganic growth in the future to grow the garment business.

More Stories on : Strategy | New Projects | Textiles

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RSWM to unveil new logo

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