Home / Knowledge / News / Textiles / MH Mills to reduce manpower for saving production costs

MH Mills to reduce manpower for saving production costs

22
Apr '08
Textile companies in Gujarat are heading for cost cutting measures to reduce the impact of rupee appreciation and rising prices of oil and cotton.

One of the most opted measures includes rationalization and reduction of manpower to bring down the cost of production.

In an exclusive interview with Fibre2fashion, Mr Biren Parikh, Managing Director of Ahmedabad based MH Mills stated, “We are planning to offer VRS to 200- 250 employees and purchase cost-effective power equipments that can save as much as 25 percent of the power costs. This will be done after ensuring proper planning and following legal practice like giving notice to the employee and arranging for the funds. The company will shell out about Rs5 crore in all for the purpose.”

Mr Biren affirmed that the some of the major cost cutting measures on the priority list of the company includes reducing wage bills, cutting down on excessive power and purchasing raw materials in bulk when offered at a low price. He also added saying, “Raw materials we purchase from outside are mainly color chemical, polyester and staple fiber and all these require oil for their production. So, if the overall oil price goes up, it is bound to affect us indirectly.”

Mr Parikh confirmed that the company is taking up the task of creating a young team by bringing down the average age of the workforce from 54-55 to 48 in the next one year's time.

Fibre2fashion News Desk - India


Must ReadView All

Rajive Ranjan (left), Managing Director, Techno Design GmbH and Technocian Fashions, with Oliver Hein, COO, s.Oliver Group. Pic: PDS Multinational Fashions Limited

Apparel/Garments | On 2nd Dec 2021

PDSMFL (BSE:538730) to source for s.Oliver from India, Sri Lanka

India-based PDS Multinational Fashions Limited (listed on Bombay...

Pic: Sergejsbelovs | Dreamstime.com

Apparel/Garments | On 4th Dec 2021

USTR, AAFA to promote greater near-shoring of apparel production

The office of the United States Trade Representative (USTR) has...

Pic: Yilmaz Savas Kandag | Dreamstime.com

Textiles | On 4th Dec 2021

Top priority is to eliminate CAD & foreign debt: Turkey’s new FM

Turkey wants to boost investments, production and exports, and its...

Interviews View All

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Ahmet Gecikli,

Ahmet Gecikli

Ser Mekatronik, founded in 2008, is specialised for providing mechanical...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Sunita Shanker, Label Sunita Shanker

Sunita Shanker
Label Sunita Shanker

Inspired by the rich traditional crafts of India, Sunita Shanker’s work is ...

Samant Chauhan, Label Samant Chauhan

Samant Chauhan
Label Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening 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


December 2021

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


Advanced Search