Financial Daily from THE HINDU group of publications
Monday, Apr 11, 2005
Financial Daily from THE HINDU group of publications Monday, Apr 11, 2005 |
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Corporate
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New Projects Sybly Industries to expand Ghaziabad unit Our Bureau
Mumbai , April 10 SYBLY Industries Ltd, a manufacturer of polyester yarn and mercerised cotton yarn, is expanding and modernising its textile unit at Muradnagar in Ghaziabad at a cost of Rs 25 crore in two phases. The cost for the first phase, involving installation of automated machinery, is pegged at Rs 4.35 crore. According to a company release, the expansion project will help Sybly raise product quality and produce auto-coned polyester yarn for export. The company is also installing a 3,000-tpa fibre dyeing plant as part of the modernisation plan. The orders for the main machines have been placed with Lakshmi Machine Works Ltd, Coimbatore. In the second phase, the company will double the number of spindles to strengthen the unit's production capacity and launch its own brand in the retail segment. The estimated cost of the expansion project is around Rs 20 crore and is expected to be complete by the end of the current financial year. With this expansion, the production capacity of the unit will go up to 5,900 tonnes, almost double the current capacity. Post-expansion, the company is targeting a turnover of Rs 60 crore in 2005-06 and Rs 100 crore in 2006-07. The company will enter the retail market of sewing threads by launching its own brand and directly selling it to garment exporters. The company has clinched a Rs 10.8-crore, two-year order from a leading US company for supply of dyed and grey polyester yarn, the release said.
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