Home / Knowledge / News / Textiles / El Nasr seeks financial assistance for restructuring
El Nasr seeks financial assistance for restructuring
27
Sep '10
The Egyptian knitwear company – El Nasr Clothes & Textiles, which manufactures textiles for business clients like Marks & Spencer Group Plc, is looking for financial assistance for the purpose of restructuring the company. It has also planned to export clothing to the US.

The company is planning to raise funds either from the sale of the company's assets, addition of capital or a loan. The decision will be taken by the board. The proposal for restructuring the company and investment needed to upgrade the machines will be put forward at the next board meeting which is going to be held on 28th September.

El Nasr machines have not been upgraded in last 10 years. This has led to added expenditure on production of fabrics, as a lot of waste is generated. Currently, most of the machines are running at 50 to 60 percent of their production capacity, which is expected to increase up to 70 percent by January. The company's capacity, for knitting as well as dyeing, is 15 tons per day.

As a result of better management, the company's sales are expected to rise, by 15 percent to 180 million Egyptian pounds (US $31.5 million) in the current fiscal year which ends on June 2011.
But the amount to be raised for investment has not been disclosed by the company.

El Nasr, also recognized as Kabo, is entitled to ship textiles to the US under a contract that focuses on using Israeli components. The company will exploit the Qualified Industrial Zone (QIZ) in Egypt.

Exports of apparels to US from Egypt have increased two-folds since 2005. It was around the same time when US had permitted the products, duty-free entry into its market, manufactured from Israeli raw materials and produced in the QIZ of Egypt.


Fibre2fashion News Desk-India


Must ReadView All

Sri Lanka's textile imports up 32.5% in February 2018

Textiles | On 22nd May 2018

Sri Lanka's textile imports up 32.5% in February 2018

In what might be an indication of higher exports in the coming...

Polyester yarn price surge affects Surat textile industry

Textiles | On 22nd May 2018

Polyester yarn price surge affects Surat textile industry

The prices of polyester yarn have increased about 12-15 per cent in...

Courtesy: Myntra

Fashion | On 22nd May 2018

Myntra to launch exclusive red carpet line at IIFA 2018

India’s leading destination for fashion online, Myntra, is all set to ...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Suresh Patel
Sidwin Fabric

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Silvia Venturini Fendi
Fendi s.r.l

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

Rupa Sood and Sharan Apparao
Nayaab

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

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search