Business Daily from THE HINDU group of publications
Tuesday, Sep 18, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Sep 18, 2007 ePaper |
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Marketing
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Strategy Corporate - Alliances & Joint Ventures OCM enters into strategic alliance with Burlington Our Bureau Ahmedabad, Sept. 17 Amritsar-based textile manufacturer OCM India Ltd has entered into a strategic alliance with Burlington WorldWide for manufacture and sale of worsted wool fabrics under the Burlington brand in the domestic market, and for exports, for which the latter would invest Rs 12 crore towards doubling the existing capacity. This will be a marketing and commercial partnership between Burlington WorldWide (BWW), a division of the US-based International Textile Group Inc (ITG), and OCM. Like ITG, OCM is majority-owned by W L Ross & Co. LLC of New York, according to a company release here today. The partnership would provide OCM the necessary technical and manufacturing know-how for export of OCM products in the US, Europe and Asian markets. Under the deal, Burlington will provide marketing and commercial support to OCM for the domestic market and technical and manufacturing support for the development of advanced manufacturing processes and operations and the development of new wool fabrics, the release said. “This alliance can contribute in lending us an international edge,” said Mr Rajeev Surana, CEO, OCM India. By this collaboration, the company expects its exports to start contributing 25 per cent to the overall revenue and help recapture the domestic apparel market this year. More Stories on : Strategy | Alliances & Joint Ventures | Wool
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