Home / Knowledge / News / Textiles / Oriental Weavers mulls expansion

Oriental Weavers mulls expansion

15
Mar '10
As demand for its products reveal a surge, Oriental Weavers a carpet producer is expected to shell out 39.5 million Egyptian pounds for the land and assets of a textile firm which is yet to be started, but is located strategically, next door.

Oriental Weavers which is the world's biggest machine woven carpet producer sells 45 percent of its goods in the domestic markets and the rest of the carpet production is exported to over 100 countries, worldwide.

Revealing details, Haitham Moneim, Investor Relations Manager at Oriental Weavers told fibre2fashion, “This planned acquisition of the Rosetex facility, which is located next door, is part of Oriental Weavers expansion strategy.

“Currently Rosetex has no production capacity and what we targeting is the land and Rosetex infrastructure and given that it is located next to OWI, that will allow for further enhancements in production process, due to the vertical integration model of OWI.

“So the plan for the acquired plant will be to have a fully automated warehouse and to add supporting finishing lines like sheering, packing, etc and the acquisition of Rostex is subject to approval in the AGM on March 21”, he concluded by saying.

Fibre2fashion News Desk - India


Must ReadView All

Pic: humphery / Shutterstock.com

Textiles | On 18th May 2021

China's textile sector shows strong performance in Q1 2021

China's textile industry showed strong performance in the first...

Pic: Shutterstock

Retail | On 18th May 2021

Retail stores in Ireland open after 4 months of lockdown

Over 280,000 employees in Ireland’s retail sector returned to work as ...

Pic: Shutterstock

Textiles | On 18th May 2021

Prime Content| Organic cotton fibre prices in India expected to rise: TexPro

The price of organic cotton fibre in India is expected to increase in ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Amanda Cioletti,

Amanda Cioletti

The entertainment/character segment lead as the largest sector for the...

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

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


May 2021

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


Advanced Search