The Hindu Business Line : ITEMA to turn out twister machines from mid-2008

First investment
The Italian company has invested €5 million into the venture which incidentally brings its first investment in manufacture in India, after its China production facility.

G. Gurumurthy

Coimbatore, Dec. 14 Italy’s textile machinery conglomerate ITEMA group will bring out its new range of two-for-one twister machinery, ‘Cosmos’, produced from its newly acquired production facility in Coimbatore, sometime in mid-2008.

The commercial launch of ‘Cosmos’ for the Indian market will coincide with the full scale operation of the Coimbatore production unit expected to be achieved by then, according to Dr Gabriele Checchini, Managing Director and Chief Executive Officer of Savio-ITEMA Spinning India Ltd, the fully owned Indian subsidiary of ITEMA.

ITEMA, having its global textile machinery business interests spread across weaving, spinning, knitting and electronics divisions, recently took over a sick textile machinery unit, Lakshmi Synthetic Machinery Ltd, to locate its textile machinery manufacture.

Investment

The Italian company has invested €5 million into its Coimbatore venture which incidentally brings ITEMA’s first investment in manufacturing in India, after its China production facility.

The Coimbatore plant, set on a 21-acre plot with 15,000 sq metre covered space, will initially produce textile yarn finishing machinery range, namely the two-for-one twister machines. The plant is set to commercially produce the ‘Cosmos’ range twister machines introduced in the international textile machinery exhibition at Munich by ITEMA group company Savio in September last.

“We have already started using the Coimbatore plant to produce components to be supplied to the parent company in Italy and commercial production of machinery is scheduled to start by July next,” Dr Checchini told Business Line.

Future plans

Savio-ITEMA Spinning India’s production unit here, according to Dr Checchini, will in course of time be in a position to take up manufacture of new spinning products of Savio so as to offer complete spinning line technology for the industry in the sub-continent which includes the markets of Nepal and Sri Lanka.

ITEMA’s Savio is globally known for, besides the TFO twister machines, its auto winding machines and open-end rotors.

ITEMA had, prior to 1990, a business tie-up with LMW’s group company Textool for sales and service of its post spinning machinery range before it entered into a joint venture with another Coimbatore-based textile engineering company Veejay Lakshmi Engineering for manufacture of Savio’s yarn finishing machinery range.

After the suspension of the joint venture in 2004, ITEMA floated ITEMA India essentially for marketing and after sales services of Savio’s spinning machinery and its group company Promatech that produces weaving machinery brands Somet, Vamatex.

Now ITEMA, having its weaving division’s interests represented under ITEMA Weaving (India) Pvt Ltd, offers its services for Promatech as well as for its other group companies such as Sultex and ITEMA Shanghai’s assembled weaving machinery too.

More Stories on : New Projects | Textile Machinery | Brands

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