Alps Industries Ltd., the leading Yarns and Furnishings manufacturer today announced their venture into Automotive Fabrics. Alps Industries has entered into a technical and marketing alliance with Suminoe Textile Co. Ltd, Osaka, a leading automotive fabric maker in Japan.

The project, to come up in Laksar, Haridwar, would be implemented within the calendar year of 2008. Alps Industries will make an investment of Rs.150cr which includes expansion of decorative fabric capacity, which is already under implementation. The plant will have state-of-the-art processing machinery. Suminoe Textiles with its strong design skills and tremendous reputation with Japanese car makers would further assist Alps Industries in the marketing of automotive fabrics.

Announcing the tie up, Mr. Sandeep Agarwal, MD, Alps Industries Limited, said “We are delighted to enter into a technical alliance with Suminoe Textile Co Ltd. Our venture into value added lines is an obvious extension of our textile expertise. The automotive fabric industry is growing rapidly with the growth in the auto manufacturing sector and we hope to notch up revenue of Rs 100cr in three years from this segment.”

Sourced From: Sampark Public Relations Pvt Ltd

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• Era Infra bags contracts from Birla Tyres & Alps Inds
• Shri Lakshmi FY08 net profit up 66.18% to Rs 67.42cr
• Nakoda Textile Industries – 100% Profits
• Birla Cotsyn plans Rs 320cr textile project
• Alok Industries Q1 net profit up 12.91 pc