Home / Knowledge / News / Textiles / Textured Jersey to invest $4mn in new capacity addition
Textured Jersey to invest $4mn in new capacity addition
08
Nov '13
Textured Jersey Lanka PLC (TJL), the premier knit fabric manufacturer in Sri Lanka, has been at the forefront for continuously innovating and developing its products and services, aiming to deliver unparalleled speed, quality, reliability, sustainability and value for its customers.

This approach has enabled TJL to build a strong and sustainable client base, cultivating deep relationships with major customers such as Intimissimi, Victoria's Secret, Marks and Spencer, Decathlon, and DBA brands - some of the world's largest apparel brands - allowing it to sustain profits and revenue growth, even in times of weak and uncertain demand conditions.

To sustain its competitive advantage and maintain growth, the company recently announced a number of significant investments and initiatives to add capacity and modernize its plant, to substantially reduce energy costs, and to make inroads towards successful regional expansion.

Further, to strengthen its senior management team and facilitate the next phase of growth, the company also recently announced the appointment of Sriyan de Silva Wijeyeratne as CEO/Managing Director of Textured Jersey.

The capacity expansion and modernization project is an estimated US$ 4mn investment, which is expected to add 10-12% capacity, enable specific fabric finishes and improve efficiencies. To facilitate the capacity expansion, a new water treatment plant will also be constructed. This effort is expected to be completed during the last quarter of FY2013/14.

To limit its dependency on the national grid and reduce the overall energy costs, TJL has commenced the construction of a multi-fuel boiler and power plant. This plant is expected to be commissioned during the early part of the 2014/15 financial year and has an estimated cost of US$ 4.5mn.

Once operational, the plant is expected to produce the total current steam requirement of the factory, and substantially reduce its dependence on furnace oil. The steam generated will also be used for air conditioning, thereby reducing electricity consumption. Additionally, the steam will also be used to generate 1 MW of power, reducing the company's dependence on the national grid.

The company also announced that it has entered into a Technical Service and Management Agreement with Ocean India Private Ltd (OCI), a knit fabric manufacturer located in India. The announcement states that TJL will receive a fee of US$ 780,000 per annum for the services provided to OCI.

The agreement is valid for a period of two years commencing from October 2013. In addition to the fee, this arrangement should provide TJL with insightful information and experience to ensure the successful implementation of its regional expansion strategy.

The combination of these initiatives is likely to ensure that growth is sustained both in the short as well as in the long run, thereby assuring the continuous delivery of value to the shareholders of Textured Jersey.

Brandix


Must ReadView All

Textiles | On 16th Aug 2017

USITC to continue investigations on PSF imports

The US International Trade Commission (USITC) has determined that...

Textiles | On 16th Aug 2017

India’s apparel exports stumble in July 2017

Exports of readymade garments (including those made of cotton,...

Apparel/Garments | On 16th Aug 2017

EU displaces Japan as Myanmar’s largest apparel market

After the reinstatement of Generalised Scheme of Preferences (GSP)...

Interviews View All

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Madhu Jain
Madhu Jain

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

Sanjukta Dutta
Sanjukta's Studio

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts 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

August 2017

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
66.7%
No
18.5%
Skip
14.8%

Total Votes: 27

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
37.0%
No
40.7%
Skip
22.2%

Total Votes: 27

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
81.5%
No
7.4%
Skip
11.1%

Total Votes: 27

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
55.6%
No
11.1%
Skip
33.3%

Total Votes: 27


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



X