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
Rieter Award Week 2011 – a resounding success
At the end of September 2011, Rieter conferred the coveted Rieter Award for the 22nd time on students and young professionals in the field of textile engineering. Seven prospective textile professionals were presented with the Award and again this year, the winners were invited to visit the Company’s headquarters in Switzerland.
Special this year was that following the visit to Switzerland, the journey continued on to Barcelona (Spain) for the Textile Machinery Exhibition ITMA 2011. The Award ceremony was then held in Barcelona.
In close cooperation with universities and professors worldwide, the Rieter Award Jury sought and found the Award winners for this year. The seven prizewinners 2011 are: Mr. Md Almirany from Bangladesh, Ms. Qin Wang from China, Mr. Avinash Kesaraju from India, Mr. Kashif Nadeem from Pakistan, Ms. Nazan Erdumli from Turkey, Ms. Nguyen Bao Quyen Le from Vietnam and Mr. Pavel Murychau from Belarus. Regrettably, Mr. Md Almirany from Bangladesh was not granted a visa and could therefore not participate in the Rieter Award week 2011.
Highlight was the visit to the ITMA 2011
The varied program for the Award week gave the winners an insight into Rieter’s products and production. In addition, personal contacts could be established in the Sales and Management. The tightly packed program included sightseeing in Switzerland and also in Barcelona.
At the traditional Rieter Agents Day prior to the ITMA, presentation of the Award by the Business Unit CEO Peter Gnägi was carried out. Of course, the following two days with the visit to the ITMA were a highlight for the young textile professionals.
The Rieter Award encourages young professionals
Since 1989, the Rieter Award has been bestowed annually on students and young professionals. With this attractive prize, Rieter encourages skilled youngsters and thereby supports the universities and institutes in their efforts to win excellent students for a vocational training in the field of textiles.
Selection of the Rieter Award winners was carried out globally. Students and young professionals who have excelled themselves by well-founded work and great commitment in the field of textile engineering were selected.
Rieter AG
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….
