Home / Knowledge / News / Textiles / Oriental Weavers mulls expansion
Oriental Weavers mulls expansion
15
Mar '10
As demand for its products reveal a surge, Oriental Weavers a carpet producer is expected to shell out 39.5 million Egyptian pounds for the land and assets of a textile firm which is yet to be started, but is located strategically, next door.

Oriental Weavers which is the world's biggest machine woven carpet producer sells 45 percent of its goods in the domestic markets and the rest of the carpet production is exported to over 100 countries, worldwide.

Revealing details, Haitham Moneim, Investor Relations Manager at Oriental Weavers told fibre2fashion, “This planned acquisition of the Rosetex facility, which is located next door, is part of Oriental Weavers expansion strategy.

“Currently Rosetex has no production capacity and what we targeting is the land and Rosetex infrastructure and given that it is located next to OWI, that will allow for further enhancements in production process, due to the vertical integration model of OWI.

“So the plan for the acquired plant will be to have a fully automated warehouse and to add supporting finishing lines like sheering, packing, etc and the acquisition of Rostex is subject to approval in the AGM on March 21”, he concluded by saying.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Suresh Patel
Sidwin Fabric

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

Mark Paterson
Technical Absorbents Ltd

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Madhu Jain
Madhu Jain

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
March 2017

March 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