China Texmatech eager to set up textile machinery plant in Gujarat
China Texmatech Co. Ltd. (CTMTC), the largest enterprise in China specialized in the import and export of textile machinery and technology, has expressed interest in setting up a high-tech textile machinery plant in west Indian State of Gujarat.
A delegation led by Mr. Wu Xiuhua, Vice President of CTMTC called on Gujarat Chief Minister Narendra Modi and expressed its willingness to establish a high-tech project for manufacturing textile machinery.
The delegation also lauded the efforts of Gujarat government in creating an investment-friendly atmosphere in the State.
CTMTC turned into a limited company from state-owned company after gaining the share capital from Jingwei Textile Machinery Co. Ltd. in 2004. Presently the company focuses its business on the import and export of textile machinery and technology, textile products and garments, textile raw material, and contracted engineering.
Over the years, CTMTC’s import and export of textile machinery and technology has expanded from cotton spinning to wool spinning, flax spinning, silk, chemical fibre, knitting, printing, dyeing and many other fields.
Fibre2fashion News Desk – India
Hike in input costs hit Q2 net profits at LMW
Despite, a 31 percent rise in sales and buoyed by a good off-take of textile machinery from the Northern parts of India, major textile machinery producer Lakshmi Machine Works (LMW) posted a marginal increase in fiscal 2011-12 second quarter net profits.
Despite the various challenges that the Indian textile sector is facing, income from operations at LMW rose by a massive 31 percent to Rs 5.61 billion from Rs 4.29 billion, year-on-year. However, net profits augmented by just 7.4 percent to Rs 492.4 million in the second quarter from Rs 458.5 million from a year ago.
Speaking exclusively to fibre2fashion, Mr R Rajendran, Director (Finance) LMW said, “Actually in the second quarter we could utilize our capacities according to what we had planned mainly on account of current execution of our product order. The product order that we had received during the year 2010-11 are all under execution.
“So that has helped us at least to utilize our capacities to the maximum extent. And of course, in the process we were able to increase the volume of sales compared to the previous quarter. Also compared to the first half of 2010-11, there is a growth of around 39 percent in the half year of current fiscal 2011-12.
“Our net sales have increased from Rs 7.53 billion to Rs 10.54 billion in the first half of 2011-12. But at the same time, gross and net profits have fallen on account of rise in input costs. The gross profit ratio has come down to 21 percent to 17 percent. Correspondingly net profit ratio has dropped from 15 percent to 12 percent during this period….
“Global Competitive milieu demands innovation” – Intex Consulting
Companies across poles are investing huge in bringing out new products more customized, at the same time cost effective.
A glimpse on world market, converged at ITMA ground in Barcelona-Spain, can help to acquiesce with the similar remark that ITMA exhibitor Mr. Rohit Pandit, speaking with Fibre2fashion, makes as he quotes, “The market pulse is positive as one can sense a need and willingness to invest in technology and to better their systems to attain higher efficiencies, higher growth & cost savings.”
Mr. Rohit Pandit is the Director of Indian subsidiary of Intex Consulting GmbH – a consulting and Software Company, headquartered in Wuppertal/Germany.
Rohit further expresses his support to the Innovation theme selected for ITMA-2011. He acknowledges- “The ITMA theme of Innovation was apt as the global competitive situation demands textile companies to keep looking at investing in new products, machinery, markets and systems.”
For his company, he describes that exhibiting at ITMA online (a precursor initiative to ITMA-2011 by Fibre2fashion) was good decision as it helped his company to spread good awareness about its participation at ITMA-2011 in Spain. “We’ve got good exposure before meeting visitors one to one at exhibition place,” avers he.
Mr. Pandit shares that his company got a lot of promising prospects not only from India but also from other parts of the world. As a closing note, the director analyses- “The industry response was positive with a higher turnout compared to previously held ITMA-2007; in terms of the number of visitors and prospects.”…Read More…
