The Hindu : Business : ITEMA to start production shortly

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Wednesday, Oct 17, 2007
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ITEMA to start production shortly

M. Soundariya Preetha

The Coimbatore facility will focus on the domestic market

COIMBATORE: The ITEMA Group of Italy, which established ITEMA India in 2005 to handle marketing and servicing of its spinning and weaving machines here, is investing about five million euro (about Rs. 28 crore) for a spinning machinery plant in Coimbatore.

The group had acquired a closed plant in Coimbatore and would start manufacturing spinning machinery components initially, Gabriele Checchini, the Managing Director and Chief Executive Officer of ITEMA India, told The Hindu here on Tuesday.

The unit, called Savio-ITEMA Spinning India, would be operational within six months and would employ about 300 people. The number was likely to go up to 1,000 in a year. Some of the major companies under the ITEMA Group are Savio (spinning), Promatech, Sultex (weaving) and Eutron (electronics). Some of the group companies started having offices in India about a decade ago and the group’s annual revenue from India was nearly 100 million euro (about Rs. 550 crore), mainly from the spinning and weaving divisions.

India was the second largest textile manufacturing centre, next to China. The group had three factories in China. The demand for textile machinery in India would continue to grow in the future, though it could be gradual. The Indian manufacturing facility would focus on supply to the domestic market, and if needed, could look at exports too.

“The high technological level of Indian technicians has convinced Savio to start production of the new two-for-one twister COSMOS here. At the same time, new spinning products will also be developed here to offer the complete spinning line technology,” he said. The company had sales, after sales, spare part service, electronic circuit board repair and training centre in Coimbatore, apart from offices in Mumbai, Ludhiana, Guntur and Delhi. With enough land now available at its acquired premises here for development in the future, the group was looking only at Coimbatore for its production facilities, he said.

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