• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai , Dec. 20

Alps Industries Ltd will invest Rs 40-100 crore to acquire a marketing company in the USin the next three-four months.

"We are looking at the US because that is the market we understand the best," said Mr Sandeep Agarwal, Managing Director, Alps Industries Ltd. "We will fund the acquisition through internal accruals," he added.

Alps Industries manufactures yarns, home furnishings, natural dyes, fashion accessories and architectural products under the brand name `Vista' in the domestic market.

For its retail operations, the company has floated a fully-owned subsidiary called Alps Retail Pvt Ltd and is looking to expand its retail presence by opening 40-50 stores by March 2007.

"A shop in the shop format is what we're looking at and not exclusive showrooms," said Mr Agarwal.

The company has invested Rs 400 crore on expansion and is looking to achieve a turnover of Rs 450 crore at the end of this fiscal.

The expansion has been funded by a combination of debt and internal accruals.

The new factory, being set up in Haridwar, Uttaranchal will house 66,000 spindles and 32 looms and is to be commissioned by July 2008.

"By 2009, we expect to achieve a turnover of Rs 1,000 crore, 20 per cent of which will come from exports," said Mr Agarwal.

Shares of the company fell 3.81 per cent to close at Rs 68.10 on BSE.

More Stories on : Overseas Investments | Textiles

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Bhagyangar to sell 5.7 acres

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line