Home / Knowledge / News / Textiles / MH Mills to reduce manpower for saving production costs
MH Mills to reduce manpower for saving production costs
22
Apr '08
Textile companies in Gujarat are heading for cost cutting measures to reduce the impact of rupee appreciation and rising prices of oil and cotton.

One of the most opted measures includes rationalization and reduction of manpower to bring down the cost of production.

In an exclusive interview with Fibre2fashion, Mr Biren Parikh, Managing Director of Ahmedabad based MH Mills stated, “We are planning to offer VRS to 200- 250 employees and purchase cost-effective power equipments that can save as much as 25 percent of the power costs. This will be done after ensuring proper planning and following legal practice like giving notice to the employee and arranging for the funds. The company will shell out about Rs5 crore in all for the purpose.”

Mr Biren affirmed that the some of the major cost cutting measures on the priority list of the company includes reducing wage bills, cutting down on excessive power and purchasing raw materials in bulk when offered at a low price. He also added saying, “Raw materials we purchase from outside are mainly color chemical, polyester and staple fiber and all these require oil for their production. So, if the overall oil price goes up, it is bound to affect us indirectly.”

Mr Parikh confirmed that the company is taking up the task of creating a young team by bringing down the average age of the workforce from 54-55 to 48 in the next one year's time.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Johan Berlin
InvestKonsult Sweden AB

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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