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Sangam ties up with Riopele Texteis, Portugal

21
Jun '07
Sangam (India) Ltd, one of the largest manufacturer of polyester-viscose dyed yarn announced that it has entered into a strategic supply agreement with Riopele Texteis S.A.

Portugal-based Riopele, with an annual turnover of Euro 64 million, is one of the largest manufacturer of high value added polyester-viscose bi-stretch yarns and fabrics company. It has composite production facility and is a leading supplier to various leading retail chain in Europe and USA.

Under the agreement, Riopele Texteis will outsource high value added polyester viscose bi-stretch lycra fabrics from Sangam (India).

In turn, Sangam (India) will outsource technical expertise and designing pattern from Riopele Texteis S.A. Initially, the agreement will be for period of one year and subsequently renewed mutually based on performance.

Explaining the rationale behind the tie-up, Mr R P Soni, Chairman, Sangam (India) said, “This is the first step towards our vision to expand in the global markets with high value added product such as poly- viscose bi- stretch fabrics segment.”

Mr Soni also added, “This tie-up with help us to get the technical know-how and latest trend in designing from the Riopele and in turn give us an opportunity to supply high value added. Going forward, we are targeting around 10-15% revenue of its fabrics division revenue through this tie-up.”

Mr S. N. Modani, Managing Director, Sangam (India) Ltd added, “We are looking forward towards long term relationship with Riopele and once we attain desired level of revenue target we would further expand the relationship and set up new facility in joint venture with Riopele."

Sangam (India) Ltd


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