Raymond Limited, the leading textile and apparel company
in India has announced a major expansion program for its
apparels and denim businesses. This program will include
setting up two new manufacturing units for apparels and
denimwear in Bangalore and a capacity expansion of its
existing denim manufacturing facility at Yavatmal, Maharashtra.
a meeting of the board of directors held on January 7,
2004 in Mumbai, the company made the following announcements:
The company will set-up a new suit and formal trouser
manufacturing facility at Bangalore, Karnataka with
an annual capacity of 5 lac suits and 10 lac trousers
in two phases at a total project cost of Rs. 40 crores.
Phase I of the project would be operational by March
2004 and Phase II by September 2005.
company will set-up a denimwear manufacturing facility
at Bangalore, Karnataka with an annual capacity of 3
million garments at a total project cost of Rs. 44 crores,
which will be operational by December 2004
company will expand its denim manufacturing capacity
at Yavatmal in Maharashtra from 20 million meters per
annum to 30 million meters per annum at a total project
cost of Rs.127 crores, which will go on stream by April
on the expansion plans, Mr. Gautam Singhania, chairman
and managing director, Raymond Limited said, "Our
investments in capacity expansion and new garment units
are in line with our vision to become a global player
in our areas of core competence. This is yet another step
towards consolidating Raymond''s position as a globally
recognized player in textile and apparel segments."
Mr. Nabankur Gupta, group president, Raymond Limited,
"We believe that our investments in the areas of
denim and apparel will be the major growth drivers for
the group in the future. With these strategic investments,
Raymond is getting ready to face the challenges and opportunities
that will emerge at the end of the quota regime."
Raymond Group was incorporated in 1925, and is now a Rs.
1400 crore plus conglomerate having businesses in textiles,
readymade garments, engineering files and tools, prophylactics