The board of directors of one of the biggest exporters of home textiles from India, Himatsingka Seide has initiated a massive capex plan amounting to Rs 1,281 crore.
Through this capex plan, Himatsingka plans to double its sheeting capacity, foray into spinning and also venture into manufacture of terry towels and will be spread over three years.The board of directors of one of the biggest exporters of home textiles from India, Himatsingka Seide has initiated a massive capex plan amounting to#
In a BSE filing, the company said, it will double its sheeting production capacity from the current 23 million metres per annum to 46 million metres per annum.
It will also initiate backward integration, by setting up a spinning plant of 211,000 spindles and will also foray into production of terry towels with a capacity of 25,000 tons per annum
“The enhanced integration and increase in the manufacturing capacities synchronise well with the strong foothold the group has in the global retail and distribution front,” Himatsingka added.
Executive director Shrikant Himatsingka said, “These growth initiatives are synergistic with our current nature and scale of operations and they will help consolidate the Group's position in the global home textile space.”
The Himatsingka Group operates over 12 brands globally in the home textiles space and its brand portfolio includes marquee brands such as Calvin Klein Home, Barbara Berry, Espirit, Bellora and Atmosphere. (AR)
Fibre2Fashion News Desk – India
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