Morarjee to expand through foreign acquisitions

13 Jun '06

1 min read

Morarjee Textiles LTD (MTL) is planning to acquire international brands and in next two months it will complete one or two acquisitions.

The company is in negotiation talks with reputed international brands in North America and Europe which includes Mens Club of Italy. It will have to invest around Rs15 crore to Rs65 crore in acquisitions of various international brands, informed Harsh Piramal, Executive Vice Chairman of the Company.

MTL's Italian marketing and design subsidiary company takes care of European affairs.

The company's 75 percent of garment and 60 percent of fabrics are exported to various countries and this expansion policy will benefit it greatly.

The company will invest Rs10 crore to raise garment production to 1.2 million pieces from current 0.45 million pieces. It has also planned to invest another Rs10 crore to increase printing facility from 8 million meters to 14 million meters.

Morarjee Textiles LTD is preferred choice of premium shirt brands in Europe, the United States and Japan. Company' has the presence in the Mecca of fashion with an advanced Design Center in Italy, the first of its kind for mills in Asia.

More Morarjee Textile News... More Textiles News - India...