The Hindu : Raymond's expansion plans

Online edition of India's National Newspaper
Thursday, Jan 08, 2004

Business

Business

Raymond's expansion plans

By Our Staff Correspondent

MUMBAI JAN. 7. Raymond has announced a major expansion programme for its apparel and denim businesses totalling over Rs. 200 crores. The expansion 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.

The company is setting up a new suit and formal trouser manufacturing facility in Bangalore with an annual capacity of five lakh suits and ten lakh trousers in two phases at a cost of Rs. 40 crores. The Phase I of the project will be operational by March and the Phase II by September 2005.

The company is also setting up a denimwear manufacturing facility in Bangalore with an annual capacity of 30 lakh garments at a cost of Rs. 44 crores, which will be operational by December.

Raymond will expand its denim manufacturing capacity at Yavatmal in Maharashtra from the existing 20 million metres to 30 million metres annually at a cost of Rs. 127 crores, which will go on stream by April 2005.

Gautam Singhania, Chairman and Managing Director, Raymond, 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.''

Nabankur Gupta, Group President, Raymond, said, "We believe that our investments in the areas of denim and apparel will be the major growth drivers for the group in the future."

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