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Century Enka plans cut in energy costs to garner profits
09
Jul '08
Ever mounting cost of energy has gripped the attention of enterprises across the world and Century Enka Ltd, a joint venture between BK Birla Group and Accordis Group of Netherlads, is no exception.

The company, which is a leading manufacturer of nylon and polyester filament yarns, industrial yarns and nylon tyre cord fabric, has decided to focus on reducing energy costs to recover from slipping profit margins.

While speaking at the company's annual general meeting, Mr GM Singhvi, Director of Century Enka asserted, “Rising crude prices over the last few months have rendered captive generation of power unviable for us and if the crude prices keep on rising we would have to switch to the power grid for supply”.

Sources from the company informed Fibre2fashion that prospects of shifting to alternative sources such as bagasse and other bio-fuel for power are also being considered to save on energy costs which is likely to stand at Rs1,170 million in 2008-09 as against Rs990 million recorded in the previous year.

The company has no plans of making fresh investments in its business unless profits mark an increase and market conditions improve after a couple of years.

Fibre2fashion News Desk - India

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