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Malwa Ind puts up Rs 500cr expansion
27 Jul '05
1 min read
Malwa Industries unleashed Rs 500 crore expansion plan aiming to hike its turnover to Rs 600 crore, four-fold than its current turnover. The company also pointed out of the possibilities of acquiring two overseas firms.
The Company hopes acquire a jeans manufacturing firm located in Jordan producing 40 lakh pairs per annum by next month at the cost of Rs 45 crore. Second acquisition, that of an Italian company is expected to be completed in October at a cost of Rs 35 crore.
Managing Director of Malwa Industries, Rishi Oswal informed that the success of its latest product Indigo Wool could add another Rs 1,000 crore to company's total revenue by 2008-09.
He stated that by October, company will become the largest integrated denim (from fabric to jeans) producer in South Asia.
Besides these acquisition the company plans to expand operations in Europe and America, and would also enhance its denim fabric output from 15 million metres to 40 million metres by 2007-08, Oswal concluded.
The Company hopes acquire a jeans manufacturing firm located in Jordan producing 40 lakh pairs per annum by next month at the cost of Rs 45 crore. Second acquisition, that of an Italian company is expected to be completed in October at a cost of Rs 35 crore.
Managing Director of Malwa Industries, Rishi Oswal informed that the success of its latest product Indigo Wool could add another Rs 1,000 crore to company's total revenue by 2008-09.
He stated that by October, company will become the largest integrated denim (from fabric to jeans) producer in South Asia.
Besides these acquisition the company plans to expand operations in Europe and America, and would also enhance its denim fabric output from 15 million metres to 40 million metres by 2007-08, Oswal concluded.
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