The companyis currently implementing the Rs 600-crore capacity expansion plan covering spinning, knitting and processing units. It has planned to add another 75,000 spindles and its knitting and processing capacities too would be raised to 50,000 tonnes each.
Coimbatore, March 8
The Mumbai-based Krishna Knitwear Technology Ltd, an integrated textile manufacturing company, has acquired a knitwear production plant in Tirupur to enlarge its production capacity especially in high-end segment.
The company has taken over the garment unit, Aagam Design and Embroidery, located in Tirupur. The unit, acquired from the West Coast group, was supplying high-valued garments for major global retailers such as Wal-Mart, Reebok and Mothercare.
To double production
"We have now decided to double the production from the Tirupur unit, from the present two million pieces to four million pieces a year. To facilitate the capacity increase, Krishna Knitwear is scaling up the facility in Tirupur plant by building an additional 40,000 sq ft and also installing another 200 machines," said Mr Sanjay Tayal, Chairman and Managing Director.. The company's investment into Tirupur project is estimated at Rs 2-2.5 crore and this will also raise the employment in the factory from 400 to 800. The Tirupur plant expansion would be completed within six months.
The company with a turnover of Rs 1,100 crore has spinning, knitting and processing facility under one roof. While it has 1.5 lakh spindles, it is also producing 25,000 tonnes of knitted fabric with both the spinning and knitted fabric production facilities located at Silvasa. It has its processing unit (25,000 tonnes a year capacity) at New Mumbai.
The company is currently implementing the Rs 600-crore capacity expansion plan covering spinning, knitting and processing units. It has planned to add another 75,000 spindles and its knitting and processing capacities too would be raised to 50,000 tonnes each.
Mr Tayal told
Business Linethat the company has chosen to acquire the Tirupur garment unit considering the fact that besides the high productive work practices, Tirupur will also provide greater scope for products/service outsourcing due to the well developed vendor base and the teeming presence of multinational garment sourcing companies there.