Home / Knowledge / News / Textiles / Diolen seeks refinancing for its new business plan
Diolen seeks refinancing for its new business plan
08
Jul '08
Diolen Industrial Fibers BV, has urged suppliers to accept suspension of payments for its production facilities in Arnhem and in Emmen in Netherlands. A request to extend this facility for its unit in Obernburg, Germany has been put forward as well.

Refinancing was being arranged by the company for the past couple of weeks with a number of parties but the required sum could not be garnered. The amount was essentially being raised for a business plan that demonstrates the future prospects for the company.

Diolen is reputed for being one of the leading manufacturers of polyester yarn, but of late, the company was under burgeoning pressure due to increasing cost of energy and raw material. Increased competition from the the Far East and a weak dollar has made imports to Europe relatively cheap.

Company sources informed Fibre2fashion, that with the implementation of its new business plan, results of the company would improve remarkably through lower costs and better operational performance. Besides, it will also help regain Diolen's status as a value-added player in the ever-expanding polyester yarn market. The only obstacle standing in the way is the lack of adequate financing.

Although, banks have provided estate financing which will ensure continued production and delivery to customers, a hefty sum is still required to carry out the entire plan.

In addition to polyester yarn produced by the company, Diolen has now started the production of Diolen high-tenacity polyester and Diofort polyphenylene sulphide (PPS) yarns, as well as chips of polyester and other polymers. Its yarns are used for the production and reinforcement of industrial products that have to be safe and reliable.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Evelyne Cholet
UCMTF

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Robert Brunner
Devereux

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search