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Towellers Ltd signs JV with Greek group for jacquard towels

12
Nov '08

Towellers Limited a diversified manufacturer of towels and specialized textiles with a rich heritage of manufacturing quality textiles for over 35 years has today signed a joint venture with a leading Greek Towel and Textile manufacturer M/s Moutalaski / J.Sakaladis Group of Companies who has 55 years experience in this tTrade for transfer of technology and equipment.

The combined extensive experience of Towellers Limited and Moutalaski with our ability to meet the most demanding customers needs will further strengthen our unique market position by optimizing on the variety of products we offer and provide customer-centric service.

“This relationship will offer us the next level of business growth beyond the two companies” was noted by Mr. S.M. Obaid the CEO and Managing Director. By venturing in this relationship we will rollout customized jacquard hotel towels in a push to expand our customer base, top line growth and increase profitability.

The transfer of equipment and start up of machines will be made within the next quarter where the entire production will be made available to the Greek company for sale in Greece and to our other valued clients all over the world. This relationship will include Luxurious Jacquard towels, Hotel Towels, sheets and Table Linens.

The signing in ceremony was attended by Mr. John Sakalidis of M/s Moutalaski and Mr. S.M. Obaid at Towellers Limited Head Office at Karachi, Pakistan.

Towellers Ltd

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