Business Daily from THE HINDU group of publications
Tuesday, Oct 02, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Oct 02, 2007 ePaper |
|
|
|
|
|
|
|
Corporate
-
Outlook Marketing - Brands Italian group Itema to start production in Coimbatore C.J. Punnathara Recently in Italy The Italy-based Itema Group is to commence production from its Coimbatore textile machinery unit under the Savio brand name from January 2008. Talking to a group of visiting journalists, company officials said that the new Indian textile spinning unit would begin production using the latest technology in “two-for-one twister.”The Itema Group has 10 companies worldwide, seven research and development centres and a presence in more than 90 countries with 2,890 employees. With a turnover of about €667 million, the Itema Group spends over seven per cent of its earnings on R&D. Among the various branches of the group are Itema Spinning, for spinning and winding machines under the €210-million Savio brand; Itema Weaving for weaving machines; Itema Accessories and Itema Electronics. The group has operations in the US and China: Itema America and Itema Shanghai. The Indian unit would be operating out of a 88,000 sq.m. facility with a covered space of 15,000 sq. m. from Coimbatore. The land for the new project was bought in 2007 and the buildings are at an early stage of completion. The Group would be eventually investing close to €5 million in the new venture. “The demand for fabrics and textiles does not come from India’s booming domestic market alone. But with the removal of the quota regime, imports to the US markets are expected to grow handsomely and India is facing a glorious opportunity,” the officials said. Previously, the company had a presence in the Indian markets in collaboration with a leading textile machine tool maker, which was licensed to produce twister machines with Savio technology. Now, the company has decided to embark on its own course with the new production facility, the officials added. The advent of the new technology two-for-one twister is expected to increase productivity by about 20 per cent and reduce energy consumption by another 20 per cent, the officials said. More Stories on : Outlook | Brands | Textile Machinery
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, 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
|