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Sangam expands spindle capacity
17 Nov '06
2 min read
Sangam (India) Ltd, one of the largest integrated player in polyester-viscose dyed yarn segment, to announced an further increase its on-going expansions plans by Rs 167.40 crore aggregating to Rs 707.40 crore.
Under this expansion plan, the company plans to add 51,840 spindle for manufacturing polyester-viscose yarn and 12 knitting machine to add value to its cotton yarn business. Meanwhile, company's existing Rs 540 crore expansion plans has progressed on schedule.
The increased capital expenditure would be financed through term loan under TUFS and mixed of equity & internal accrual. The company has already tied up the Rupee Term Loan of Rs. 125 crore at competitive interest rate. The expansion plan is expected to complete by December 2007.
With this expansion plan, the total capacity of spindles will increase to 2, 11,584 and the total number of weaving & knitting machine increased to 279.
Meanwhile, the company has bagged new orders worth Rs 81crore, including export orders worth Rs 36 crore from its existing customer in turkey, Poland, U.K and Egypt. With these new orders, the total order book position of the company now stands to Rs 100 crore.
Elaborating on company's expansion strategy, Mr R P Soni, Chairman, Sangam (India) said, “The Company's plans are to increase its focus on exports market in post-quota scenario. With the products getting approved in global markets, we look forward to continue receiving large number of export orders from international firms.”
Company is further looking towards value added business segment in near future which will further strengthens its leadership position add the growth to its business model and translate company in to the complete integrated textile player .
Under this expansion plan, the company plans to add 51,840 spindle for manufacturing polyester-viscose yarn and 12 knitting machine to add value to its cotton yarn business. Meanwhile, company's existing Rs 540 crore expansion plans has progressed on schedule.
The increased capital expenditure would be financed through term loan under TUFS and mixed of equity & internal accrual. The company has already tied up the Rupee Term Loan of Rs. 125 crore at competitive interest rate. The expansion plan is expected to complete by December 2007.
With this expansion plan, the total capacity of spindles will increase to 2, 11,584 and the total number of weaving & knitting machine increased to 279.
Meanwhile, the company has bagged new orders worth Rs 81crore, including export orders worth Rs 36 crore from its existing customer in turkey, Poland, U.K and Egypt. With these new orders, the total order book position of the company now stands to Rs 100 crore.
Elaborating on company's expansion strategy, Mr R P Soni, Chairman, Sangam (India) said, “The Company's plans are to increase its focus on exports market in post-quota scenario. With the products getting approved in global markets, we look forward to continue receiving large number of export orders from international firms.”
Company is further looking towards value added business segment in near future which will further strengthens its leadership position add the growth to its business model and translate company in to the complete integrated textile player .
Sangam India Limited
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