Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Fashion / CLPL Management plans to shift Gampaha factory in April
CLPL Management plans to shift Gampaha factory in April
07
Mar '08
Subsequent to the sale of land (extent 544 perches) in October 2007, which infused Rs 307 million, CLPL is a virtually a Debt free company.

CLPL purchased on 20th December 2007 a land and a factory at Balummahara, Gampaha with a Rs 50 million investment to re-locate the footwear and leather products operation.

However the Company expects the value of this property to double in the event of a revaluation. Refurbishment of this premises which commenced end of January 2008 is expected to be completed by end of March 2008. The Management is planning to shift the factory in April 2008.

CLPL has signed an agreement for the Consultancy Services with the Footwear and Design Development Institute (FDDI) in India for the re-location, restructuring and modernizing the footwear and leather products operations.

The shifting of the tannery will free up 760 perches of land at a prime location in Mattakuliya enabling the management to look at options of development.

The value of this land is expected to considerably appreciate in light of the proposed new Colombo-Wattala-Negombo four lane highway.

It is likely that once the highway is developed the land could fetch in excess of Rs 1 million per perch in the market which would amount to Rs 760 million (Rs 60.80 per share).

CLPL has identified premium priced, high quality leather footwear and leather products as an area for future growth. The Company will not compete with large scale local suppliers on volume footwear but compete with high priced imported footwear.


Must ReadView All

Courtesy: Asmara Group

Apparel/Garments | On 20th Sep 2018

Fragmented nature of Indian apparel sector major challenge

A major challenge for the Indian apparel sector is its fragmented...

Courtesy: Aditya Birla Retail

Apparel/Garments | On 20th Sep 2018

Indian Aditya Birla Retail to be acquired by Samara-Amazon

India’s Aditya Birla Group has signed a deal to sell Aditya Birla...

India's 2018-19 forward cotton export contract up by 100%

Textiles | On 20th Sep 2018

India's 2018-19 forward cotton export contract up by 100%

Rise in demand from China, lower domestic prices and depreciation of...

Interviews View All

Ajay Ghariwala, Luthra Group

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

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

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women 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


September 2018

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

news category


Related Categories:

Advanced Search