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Anglo French Textile suffers due to lack of funds

May '07
Anglo French Textile Mills is one of the largest composite textile mills in India. The Company supplies products mostly to export market in various forms as grey, bleached, dyed and printed fabrics.

Presently, the 109-year old mill is losing its past glory as it faces shortage of funds for purchasing raw materials.

Taken over by Pondicherry Textile Corporation in 1986, the mill needs Rs2.5 crore every month to purchase cotton and yarn (raw materials) to manufacture cloth.

But lack of funds stops purchasing of required raw materials, stated V Vaithilingam, Industries and Power Minister, in Assembly.

Purchasing of yarn (amounts to 5000 kg everyday) from outside has also been reduced.

R Viswanathan, Industries Minister said that Government helped the mill by providing funds in budget.

He informed that production capacity of mill was around 50,000 metres of cloth a day. For this, mill required 13000 kg of yarn everyday.

Its spinning unit produces a maximum of 8000 kg of yarn and the remaining 5000 kg had to be purchased from outside.

But the lack of raw material resulted in production cut and it recorded between 40000 and 45000 metres till December last year. The production started declining and it stood at 35,000 metres a day in March 2007.

However, the situation will be improved as raw materials suppliers now ready to meet requirement. Government has also disbursed Rs17 crore to ensure that mill continues without any interruption.

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