Welcome to jimtrade
Sign In | Join Free
 
in
Home > Trade News > MTL to expand its reach has scouted for acquisition in Europe
MTL to expand its reach has scouted for acquisition in Europe
 
MTL to expand its reach has scouted for acquisition in Europe
Morarjee Textiles (MTL),part of the Rs 3,600-crore Piramal Enterprises,is scouting for acquisitions in Europe to expand its reach in the region.According to company sources, Morarjee International ,the overseas arm of MTL,is in talks with medieum-scale brands with a substantial regional (European) presnce.The company,however,declined to reveal any names ,but said that the partner is likely to be finalised by March 06.Morarjee International is based in Italy, and its clients in Europe include Zara,Prada and Massimo Dutti .
MTL plans to sell its range under the brand name of the company it proposes to acquire.The company plans to make a total investment of Rs 100 crore, partly to fund its acquisitions ,and partly to expand its capacity.By the end of 06,MTL plans to increase its capacity to 25m metres from the current 19.5m metres.
The shirting and fabric capacity is being scaled upto 10m metres ,from 7.5m metres, while that of printed fabrics and voiles is being increased to 15m metres from 12m metres.The company also plans to set up a captive power plant for its facility in Nagpur.Pramod Gothi, managing director of MTL, said the company has also set up an apparel manufacturing unit in Banglore, as part of its forward integration,which specialises in ready to wears for men,women and children.He said, " We are suppliers to brands like Tommy Hilfiger and Espirit."The facility in Banglore currently produces 40,000 pieces,and is to undergo further expansion in the course of next three to four months as the clientele of MTL increases.
Posted On : 12/22/2005 11:55:18 AM

 
 
 
MTL to expand its reach has scouted for acquisition in Europe