Raymond Ltd, India's leading textile and apparel company, inaugurated state-of-the-art manufacturing facility for carded woollen fabric at Maharashtra.
The inauguration was performed in presence of P K Bhandari, Group President & Wholetime Director.
Raymond Fedora Pvt Ltd is a 50:50 joint venture (JV) between Raymond Ltd. and Lanificio Fedora, Italy's leading woollen fabric manufacturer, set up the unit at a cost of Rs 40 crores.
Bhandari said that the new JV will increase carded woollen business by offering customers world-class products including blankets, shawls and woollen jacketing.
Piero Nardi, representing Fedora Ltd, further added that Fedora was happy to partner with Raymond Ltd which has manufacturing expertise and a strong infrastructure to cater to international markets.
Existing carded woollen unit of Raymond making blankets and shawls has been transferred at Jalgaon to Raymond Fedora Pvt Ltd.
The JV envisages increase of current manufacturing capacity from 15 lakh meters per annum to 25 lakh meters per annum in the first phase.
Founded in 1948, Lanificio Fedora is the largest producer of carded woolen fabric in the world. With a turnover of about 110 mn Euros, Lanificio Fedora supplies its products to some of the most renowned fashion brands across the world.
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