Home / Knowledge / News / Textiles / Argentine yarn maker to invest in capacity expansion
Argentine yarn maker to invest in capacity expansion
27
Jan '12
TN&Platex, Argentina's leading yarn manufacturer, has announced plans to invest over 120 million pesos (US$ 28 million) over the next two years in its existing units in the three provinces of Chaco, La Rioja and Tucumán.

TN&Platex's Director, Jorge Sorabilla, said the company will enlarge its yarn production capacity by 20 percent, generate 150 new employment opportunities, increase its exports by US$ 10 million and replace imports.

Minister for Industry, Debora Giorgi, said Argentina has a growing market that is protected from unfair competition, which makes it an ideal destination for textile entrepreneurs to invest.

She added that the textile industry in Argentina, which was on the verge of collapse a decade ago, has recovered and the production has grown nearly 150 percent in the last eight years.

The company said the new investment will be utilized for buying machinery for partial upgradation of its plants and for developing new cotton yarns to substitute for imports.

This will include setting up of 100,000 spindles in various units of the company.

In the first stage, to be carried out this year, 54,000 spindles will be installed in three plants located in the provinces of La Rioja and Tucumán.

Next year, TN&Platex will set up another 46,000 spindles in its remaining combing and carding plants in the provinces of Chaco, Tucumán and La Rioja.

Fibre2fashion News Desk - India


Must ReadView All

Two slabs of GST will affect Bengaluru garment units: SIGA

Apparel/Garments | On 23rd Jan 2018

Two slabs of GST will affect Bengaluru garment units: SIGA

The South India Garment Association (SIGA) has voiced its concern...

US FTC updates textile rules to drop obsolete requirement

Textiles | On 23rd Jan 2018

US FTC updates textile rules to drop obsolete requirement

The US Federal Trade Commission has eliminated an obsolete provision...

Indian textile industry at inflection point: Report

Textiles | On 23rd Jan 2018

Indian textile industry at inflection point: Report

The textile and apparel sector of India is at an inflection point...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search