Thursday, March 31, 2011

Top economist to deliver keynote at World Textile Summit

Top economist to deliver keynote at World Textile SummitOne of the world’s most eminent economists, Professor Barry J. Eichengreen, will be a keynote speaker at the ITMA-ITMF World Textile Summit, in September.

Prof Eichengreen is the George C. Pardee and Helen N. Pardee Professor of Economics and Professor of Political Science at the University of California, Berkeley. His most recent book, published this year, is ‘Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System’, and last year he co-edited ‘Emerging Giants: China and India in the World Economy’.

He is also a Research Associate of the US National Bureau of Economic Research and a Research Fellow of the UK’s Centre for Economic Policy Research. In the late 1990s he was Senior Policy Advisor at the International Monetary Fund.

Prof Eichengreen, who will deliver insights into the future of the global economy and the industrial prospects for its major players, is the Summit’s second keynote speaker. It was earlier announced that former United Nations Secretary General and Nobel Peace Prize winner Kofi Annan will engage with delegates on the topic of sustainability, in the light of the UN Global Compact to which several major textile firms are signatories.

“In 2011 the world economy is recovering from a shock that has seriously damaged the textile industry and disrupted international trade,” said Prof Eichengreen. “I’m delighted to have this opportunity to engage in discussion with industry leaders at the World Textile Summit and examine how a post-crisis world will look.”



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Monday, March 28, 2011

Digital textile printing to feature heavily at Sign & Digital UK

Organisers of Sign & Digital UK have noticed a trend developing from amongst their many exhibitors that indicates a growing demand for digital textile printers and finishing equipment in the UK. Many of the key players in this market have spoken to them about their intentions to show wide format digital textile printers, dye-sub calendars and a range of sewing, welding and eyeleting products to finish the print workflow.

Sign & Digital UK will take place at The NEC, Birmingham during April 12-14.

Entry is free to the show if you pre-register on line and here are just some of the ones you will see at the show:

Fujifilm’s Euromedia range includes a wide choice of digital textile products, some of which will be on show as part of the innovative, purpose-built Fujifilm ‘shop’ at Sign & Digital UK on stand H10. Experts will be on hand to demonstrate the latest innovations and visitors will get the chance to apply some of the media products themselves. One such product is StickyTex Heavy FR, a self-adhesive B1 textile that is suitable for wallpaper and other indoor applications. Used for wall tattoos, photos, borders and any large surface wall decorations, it’s a polyester textile with a high quality, non-reflective surface for printing by solvent or UV. It’s extremely easy to apply and can be re-used many times without residue or damage to the application surface.

Spandexon Stand D40 will divide their stand into zones, one of which is dedicated to digital textiles The Textile & Soft Signage Application Zone is where the trend towards textile substrates for sign and graphics applications will be in clear evidence and where visitors will get ideas of how to take advantage of the growing textile and soft signage market. Spandex will also show you how to make the most of your existing inkjet printer by using innovative textile materials combined with stylish display solutions. They will have Epson's new high-resolution, large format printer GS6000 (64") featuring an 8-colour solvent ink set on the stand, printing on ImagePerfect 2314 textile material.



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Friday, March 25, 2011

EFI VUTEk TX3250r springs a textile surprise on Sign & Digital

EFI VUTEk TX3250r springs a textile surprise on Sign & DigitalEFI is bringing to this year's Sign & Digital UK the fruits of its experience across all wide-format inkjet technologies and RIP and production solutions. To add to its leading UV-curable solutions for display producers and sign-makers, the company is demonstrating for the first time its trend-setting EFI VUTEk TX3250r 3.2 m dye sublimation fabric printer, which is a result of the growing demand from users wanting the ability to print onto greener textile materials.

Sign & Digital UK is going to take place in NEC, Birmingham during April 12, 14, 2011.

Thanks to dye sublimation technology, the TX3250r dyes fibre directly so the textile retains the original look and feel that users prefer. It offers brighter colours than other textile printing methods and is completely odourless. Selected printed textiles can be folded without leaving folding marks.

EFI's new fast drying ink enables the TX3250r to print at speeds up to 100 sq.m. direct to textile and transfer paper (for dying polyester-coated rigid or flexible substrates). Flags can be printed at this high speed in high definition and with excellent colour saturation on both sides.

"We are very excited to be adding the TX3250r to our leading portfolio of superwide format products," said EFI VUTEk's general manager Scott Schinlever. "It is an outstanding example of EFI bringing innovation to the market. The TX3250r offers unrivalled print quality and saturated colours for wide-format textile at production speeds, so our customers can tap into high-growth applications."



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Thursday, March 24, 2011

HOZA CUTTER from Krefeld to participate in Texprocess

HOZA CUTTER from Krefeld to participate in TexprocessThe HOZA CUTTER GmbH will exhibit on Texprocess in hall 4.0 A91 their cutting units to integrate/installation into/behind cloth inspection machines or stenter frames. So the customer can save a lot of money, because to cut the edges or do a middle cut he does not need any longer a complete rewinding and slitting machine. Also it saves the customer one step of working.

The cutting units can be equipped with crush cut blades, circular blades as well as ultrasonic cutting systems. Using the ultrasonic cutting system the textile including minimum 20% synthetic fibre the edges will be fixed during the cut and the textile cannot fray out.

In case the customer wants to use a complete machine, these are also possible to be manufactured at HOZA on customer’s request. Caused by modular manufacturing system HOZA guarantees a high flexibility and is able to realize the customer’s wishes economically.

This is philosophy of HOZA CUTTER more than 35years, yet. In product range sample cutting machines as well as waterfall machines also the customer’s wishes are enclosed and this range of products is expanded constantly.



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Wednesday, March 23, 2011

Intertek awards 'Compliance Practitioners Initiative' certificates

 Intertek awards 'Compliance Practitioners Initiative' certificatesThe first class of Compliance Practitioners Initiative (CPI) Certified Quality Engineers were awarded their certificates along with membership cards in a grand function in Bangalore held on February 18.

A total of 11 recipients from leading organizations like, Shahi Exports, Texport Syndicate, Texport Industries, Madura Garments, Kolor Koncepts etc were present and the certificates were presented by Intertek senior personnel and by industry leaders.

Speaking at the ceremony, Mr. Prakash Nair, CPI Certified Quality Engineer and GM Quality at a leading export house, Texport Syndicate, said, "This certification will add a lot of value to my career and has given me the confidence to deliver as per the industry expectations."

The CPI program equips participants with the necessary competence and knowledge in conducting independent quality inspections against predefined requirements in the garment industry. Upon successful completion of the training program, participants are awarded a joint certificate of CPI Certified Quality Engineer - Garment Inspection from CPI and City & Guilds.

The program includes courses on:
- Traits of a Quality Engineer
- Basics of textiles
- Basics of fabric and garment manufacturing processes
- Understanding acceptable quality level (AQL) and fabric inspection procedures
- Defect classification
- In-depth inspection methodology
- Inspection procedure
- Report writing and its importance

Six programs have already been conducted and received a positive response from the industry, resulting in more programs being planned this year.



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Tuesday, March 22, 2011

“Donot extend fruits of TUFs to imported second-hand machinery” – Mr Panchal

“Donot extend fruits of TUFs to imported second-hand machinery” – Mr Panchal“The fruits of the very successful Textile Up-gradation Fund scheme (TUFs) should not be extended to those importing second-hand machinery”, echoed, Mr Jayendra Panchal, Director of the 98 years-old Ahmedabad-based textile machinery manufacturer – Shakti Auto Loom Manufacturing Pvt Ltd.

Mr Panchal was reacting to the recent announcement made by the Textile Commissioner; Mr Joshi with regards to the soon to be announced refurbished TUFs.

Speaking exclusively to Fibre2fashion, Mr Panchal said, “Weavers across India have been importing second-hand weaving machinery under TUFs. This comes at a very heavy cost to the Indian textile machinery manufacturers as customs duty on imported textile machinery is lower than excise duty paid by Indian textile machinery producers”.

“Instead the government should promote the local textile machinery manufacturers, or otherwise TUFs benefit should be reduced for those importing second machinery”, he noted.

“I am willing to make major investments to produce high-technology weaving machinery, but considering that 95 percent of the weaving machinery imported under TUFs is second-hand, I am very apprehensive about starting the project”, he informed.

“Under the circumstances, I am appealing to the government to not extend the fruits of the very successful TUFs to those importing second-hand machinery, or create a level playing field”, he pleaded to the union government and the textiles ministry.





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Friday, March 18, 2011

‘Refurbished TUFs likely soon’ – Textile Commissioner

‘Refurbished TUFs likely soon’ – Textile CommissionerTermination of the Technology Upgradation Fund (TUF) Scheme in June last year, severely hit the large as well as the medium scale units in the textile sector. However, it is expected that the scheme aimed at up-gradation of the textile units in the sector may soon be restored in a renewed form.

Textile Commissioner, A B Joshi revealed that the Scheme was discontinued for the sake of reviewing the present structure, and that the Government is expected to restore the scheme, shortly.

He said this while addressing major industry players at a seminar. Discontinuation of the fund badly hit many of the textile units, and thus the Government was called upon to reintroduce the same.

Further, while the industry was already under distress as the issue was not taken up in the current budget, an excise duty of 10 percent was imposed on branded readymade garments and made-ups by the Finance Ministry, to add to the duress.

The proposal of excise duty faced criticism even from other experts who claimed that, such a move would prove detrimental for the industry and may even affect the sector’s hiring ability. An expert even compared the proposed tax to introduction of licence raj in the sector.





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Thursday, March 17, 2011

Easing import rules on machinery boosts textile sector

Easing import rules on machinery boosts textile sectorPrime Minister’s advisor on textile affairs, Mirza Ikhtiar Baig, lauded foreign investor’s role in the development of its textile industry.

Inaugurating the Italian Textile Technology Seminar, organized by Italian Trade Commission - Pakistan, he said that the Italian textile machineries were contributing in a very big way. Italy is the 5th largest exporter of textile machineries to Pakistan with 10.11 percent share after China (22.7%), Japan (19.55%), Germany (18.22%) and Switzerland (14.9%).

Pakistan government’s decision to withdraw duties on imported textile machineries under National Textile Strategy 2009-2014, has proved to be a big boost for its textile industry. After this decision, the country has registered a thumping growth rate of 25 percent in textile exports. It also helped to attract higher foreign investments in the country, he informed.

Introduction of BMR brought in investments of US $5 billion in to the textile sector, while IGATEX and Textile Asia were successful events. All these initiatives have been proved fruitful and equally rewarding to the industry, he added by saying.





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Wednesday, March 16, 2011

Reiter sells its stake in LMW under share buy-back scheme

Reiter sells its stake in LMW under share buy-back schemeEnam Securities Pvt Ltd on behalf of Lakshmi Machine Works Ltd has issued this Post Buy Back Public Announcement to the Equity Shareholders / Beneficial Owners of the equity shares of the Target Company, which is in continuation of & should be read in conjunction with the Public Announcement ("PA") dated December 24, 2010 issued on December 27, 2010 & Letter of Offer dated January 31, 2011 ("LOF") regarding completion of Buy Back Offer is in compliance with Regulations 19(7) of the Securities & Exchange Board of India (Buyback of Securities) Regulations, 1998, as amended (Regulations").

A. The Buy back:

The Equity Shareholders in connection with the buyback of up to 11,08,606 fully paid up Equity Shares of Rs. 10 each by the Target Company through a tender offer method at a price of Rs. 2045 per Equity Share for an aggregate amount of Rs. 22671 lacs ("Buy Back Size") in accordance with Section 77A, 77AA & 77B of the Companies Act, 1956 & the Regulations. The number of Shares bought back constitute approximately 9.79% of equity share capital of the Company post Buyback.

The Buy back was effected through the tender offer method.

The Buy back offer was open from February 09, 2011 to February 24, 2011.

B. Details of the Buy back:

The total number of Equity Shares bought back under the Buy Back is 11,02,746 Equity Shares.

The total amount invested in the Buyback is Rs 22551.16 lacs.

The Company has bought back a total of 11,02,746 Equity Shares at a price of Rs. 2045 per Equity Share. The Registrar to the Offer i. e. S.K.D.C. Consultants Ltd, received 35 valid applications for 11,02,746 Equity Shares in response to the Buy Back Offer resulting in the subscription of approximately 99.47%. All the valid applications were considered for acceptance.





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Monday, March 14, 2011

Members of UCMTF to attend Techtextil 2011

Members of UCMTF to attend Techtextil 2011The French machinery manufacturers group, which considers itself as part of the technical textiles industry, will welcome technical textiles and nonwovens producers at TECHTEXTIL 2011 (Frankfurt, May 24-26)

“We understand the unique needs of the technical textiles producers and the importance of providing them tailored solutions to address their specific requirements. Our main objectives are to help them design new marketable products and produce them in a safe and cost efficient way. That’s why we encourage our members to attend TECHTEXTIl next May in Frankfurt” states Evelyne Cholet, Secretary General of the French Association of Textile Machinery Manufacturers (UCMTF).

French textile machinery manufacturers are often world leaders on their specialties. Their strategy is to offer tailor made solutions to solve customers’ needs and be their long term
partners. This strategy is particularly fitted to the nonwovens and technical textiles sectors in which the machinery manufacturers are really integrated. This is how new markets for the technical textiles can be opened.

Thanks to this strategy, France is the 6th machinery exporter, particularly strong in weaving preparation, nonwovens machinery, spinning machinery, and finishing machinery. The total turnover is slightly over 1 billion Euros (1.3 billion US$), nearly all of it being exported all over the world.

These markets are complex and limited in size. They do not attract the new and large machinery manufacturers from such countries as China.

Not to work on technology innovations behind the closed doors of the machinery manufacturers’ laboratories but very closely with the customers to understand their needs and offer them solutions is particularly important for the technical textile applications which require real partnerships to design the specific technologies to produce new marketable end products.





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1st World Textile Conference By TAI

1st World Textile Conference By TAIThe Textile Association (India) – Central Office is organizing a global level conference, for the first time in India, on a much larger scale and in a much broader format than our regular annual conference; World Textile Conference, it’s to be held in Mumbai on May 6 to May 7, 2011 at Intercontinental, The Lalit, Sahar Airport Road, Andheri (E), Mumbai. The theme of this conference is “Vision 2020: Emerging New Opportunities Worldwide and Challenging Business Strategies.”

The aim of the conference is to provide an interactive opportunity, and to create a very positive atmosphere where the entire textile fraternity can benefit by discussing, meeting and knowing each other and enhance our cumulative strength.

The conference is expected to be the largest convergence of cohesive forces and intends to bring together all textile industry stakeholders like mill owners, corporate houses, trade associations, export councils, policy makers and industry leaders, CEOs, and senior professionals from the national and international industry and discuss large opportunities face to face. The two-day conference will have eminent speakers, panelists and moderators including international experts to share their vision before an august audience of over 500 delegates.





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Friday, March 11, 2011

Swiss textile machinery, item of key import - Consul General

Swiss textile machinery, item of key import - Consul GeneralConsul General of Switzerland, Didier Boschung recently stated that, a big trade delegation including those from textile industry of Pakistan is planning to pay a visit to Switzerland in May this year, to survey the trade prospects in Switzerland and to enhance mutual trade between the two nations.

He called upon the industrialists to join the delegation, which is being arranged by the Swiss Business Council (SBC) in association with the Swiss Consulate General Karachi and Swiss Asian Chamber Zurich.

Further, Boschung expressed hope that the two countries would generate new prospects and bring about new business opportunities to strengthen the financial bonding amongst the two nations.

He stated that, textile machinery is amongst the key imports of Pakistan from Switzerland, and that the Swiss producers of these machineries met with an excellent response at the Megatech 2011, the biggest exposition of textile machinery which was recently held at the Lahore Expo Centre.





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Thursday, March 10, 2011

Picanol Weaving Machines experiences a strong year in 2010

Picanol Weaving Machines experiences a strong year in 2010The consolidated turnover of the Picanol Group for the 2010 financial year amounts to 395.77 million euros, an increase in turnover of 58% compared to the turnover of 250.23 million euros in 2009.

The turnover of Picanol NV increased by 55% from 170.21 million euros in 2009 to 264.08 million euros in 2010, mainly as a result of a strong increase in the volume of weaving machines sold. The contribution of Picanol NV’s turnover to the consolidated turnover totals 66.7% in 2010.

The gross profit of the Picanol Group for the 2010 financial year was 81.94 million euros, compared to 23.62 million euros in 2009. The gross margin increased from 9.4% to 20.7%, mainly because the fixed production costs did not increase in line with the higher turnover.

As a result of the strong increase in turnover, a further decrease in the general and administrative costs and leaving out the the restructuring costs, the operating result increased from -28.17 million euros in 2009 to 46.73 million euros in 2010. The operating result in 2009 included restructuring costs of 12.02 million euros.

Weaving Machines


The Weaving Machines division experienced a strong year in 2010, mainly as a result of the quicker than expected recovery of the weaving machine market in Asia. Particularly in China, the market for locally produced machines started to recover at the end of 2009. The facility in Suzhou (China) was the first to profit from the improving Chinese market. From the second quarter, exporting textile companies were also running at a cruising speed.

This resulted in a recovery in the demand for weaving machines produced in Ypres. In the second half of 2010, the market remained good, which was also due to the favorable exchange rate of the Euro. In the fourth quarter of 2010, the Chinese demand for weaving machines slowed down; one of the reasons being the continuously increasing price of cotton and the volatile exchange rates. However, this effect was compensated for by an increasing demand from other regions in the world. Sales of spare parts and weaving accessories also profited from a favorable market in 2010.





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Wednesday, March 9, 2011

Low-carbon product display under one roof

With increasing global awareness of environmental protection, textile suppliers show uprising demand for environmental friendly machinery produced by social responsible textile machinery makers. The 15th International Exhibition on Textile Industry ( ShanghaiTex 2011), being the long-standing textile machinery exhibition in China which will be held at Shanghai New International Expo Centre, Pudong, Shanghai during June 14 - 17, 2011, has welcomed the environmental call from the Government which promote a low-carbon economy.

By providing a professional platform for industry players to display sophisticated products and machineries with environmental concept, ShanghaiTex 2011 successfully attract attention of textile suppliers who would like to upgrade machinery with low-carbon emission and energy saving features.

In recent years, printing, dyeing and finishing industry is undergoing rapid transformation amid the trend of environmental protection. Energy-saving machineries and equipments are in high demand and are expected to keep on increasing under the threat of global warming and the shortages of natural resources.

Following the raising demand from the industry, ShanghaiTex 2011 announced that "Printing, Dyeing & Finishing Machinery & Textile Chemicals Zone" and "Knitting & Hosiery Machinery Zone "are almost full. Exhibitors include: Hong Kong's Fong's, Gofront, Germany's Theis, Groz-Beckert, Denmark's Danfoss, Italy's Brazzoli, Korea's IL Sung, Switzerland's Benninger, etc. Visitors not only can source the environmental-friendly textile products, but also experience the green concept and technology delivered by various exhibitors.





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Tuesday, March 8, 2011

Leading Indian entrepreneur to speak at ITMA-ITMF World Textile Summit

Leading Indian entrepreneur to speak at ITMA-ITMF World Textile SummitThe co-founder and managing director of one of India’s biggest integrated textile enterprises is to address international industry leaders at September’s ITMA-ITMF World Textile Summit, in Barcelona, Spain.

Dilip B. Jiwrajki has been responsible for steering Alok Industries Limited through a quarter of a century of astonishing growth and is recognised as one of a handful of Indian entrepreneurs who correctly read the impact of the dismantling of bilateral trade quotas during the past decade and responded imaginatively to the opportunities of the new business order.

With immediate family members, he incorporated Alok Industries in 1986, setting up its first polyester texturising plant three years later. Now with a turnover of around €700 million, the business has expanded downstream into weaving, knitting, processing, home textiles, garments and retail, and upstream into cotton spinning and the manufacture of partially oriented yarn through continuous polymerisation. Nearly half its production is exported.

Mr Jiwrajka will join a powerful speaker panel that will include Du Yuzhou, president of China National Textile & Apparel Council (CNTAC), Loek de Vries, president and CEO of the technical textile leader TenCate, and Thomas Babacan, CEO of the world’s biggest textile machinery manufacturer, Oerlikon Textile, and COO of the OC Oerlikon Group.

Former United Nations secretary-general and Nobel Peace Prize winner Kofi Annan – now an international advocate for sustainable business practice – will be a keynote speaker at the Summit, which will take place on September 21 at the Palau de Congressos de Catalunya in Barcelona, one day ahead of the opening of the ITMA 2011 textile-machinery show in the same city.





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Monday, March 7, 2011

SUESSEN with new Managing Director

SUESSEN with new Managing DirectorMr. Harald Szczepanek was appointed Joint Managing Director by the Board of Directors of Spindelfabrik Suessen GmbH, effective December 1st, 2010.

He succeeds Mr. Erich Casanova, who left SUESSEN after eight very successful years and reaching his retirement age.

With Mr. Harald Szczepanek we were able to engage a very experienced expert in the field of textile machinery.

Harald Szczepanek completed his studies of mechanical engineering at the University of the Federal Armed Forces in Munich (Dipl. Ing.). At the beginning of his career he was employed by a number of companies as head of production and development. Subsequently, Harald Szczepanek was Managing Director of an important subsidiary for several years. In addition, he has been able to prove very successfully his substantial expert knowledge and experience in numerous projects at home and abroad.

SUESSEN is the acknowledged Leader in Open-End and Compact Spinning Technology. The well-known Open-End SpinBoxes SE 7, SE 8, SE 9 and SE 10 were developed and manufactured by SUESSEN. The latest SpinBox generations, SC and SQ series, have been successfully retrofitted to almost 700 OE rotor spinning machines already. In total, SUESSEN has manufactured close to 3,000,000 SpinBoxes.

SUESSEN’s EliTe Compact Spinning System, introduced at ITMA 1999, and since sold for over 4,500,000 spindles, has already established itself as the most versatile compact ring spinning system. Existing ring spinning machines of various makes can be upgraded to compact spinning, using SUESSEN EliTe CompactSet.





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Friday, March 4, 2011

Members of VDMA have high expectations for ITMA event

Members of VDMA have high expectations for ITMA eventITMA 2011 in Barcelona (22 – 29 September 2011) is on everyone’s lips in the sector. What are the comments of the exhibitors regarding the most important exhibition of the textile machinery industry? What can customers of the textile and garment industry worldwide expect from “Made in Germany” presented at ITMA? Please find below the CEO’s comments from the leading exhibitors of various sectors.

Heinrich Trützschler, General Manager - Trützschler, Hall 2, Stand B 131
“At the attractive venue of Barcelona we expect a high visitor frequency for ITMA 2011, in particular from the growing markets of Latin America as well as Central and South East Asia. The expanding sector of technical textiles in particular will profit from an ITMA in Europe”.

Thomas Babacan, CEO Oerlikon Textile & COO OC Oerlikon - Hall 2, Stand D 130
“All renowned companies worldwide are represented at ITMA. This applies both to our internationally positioned company as well as to visitors from the textile industry, around 80% of whom will come from abroad."

Jochen Zaun, Managing Director - Georg Sahm, President VDMA Composite Technology, Hall 2, Stand D 118
"ITMA is the best platform for presenting innovative production technologies, as well as technical textiles. We will show there our latest developments in winding technology.“

Johann Philipp Dilo, Managing Associate - Dilo-Group, Hall 2, Stand B 101
“ITMA in Barcelona is the most important exhibition of the international textile machinery industry in 2011. Our innovations will attract decision makers of nonwovens industries worldwide.”

Heinz-Peter Stoll, Managing Associate - H. Stoll, Hall 3, Stand A 165 “Fira de Barcelona Gran Vía ranks among the most modern fairgrounds in Europe. Centrally situated between the airport and the city of Barcelona, ITMA 2011 will be quick and easy to reach. We are convinced that our customers from the flat knitting industry will highly appreciate both the first-class accessibility and the atmosphere of Barcelona.”





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Wednesday, March 2, 2011

Ludhiana sewing machine & RMG sector fumes after budget

Ludhiana sewing machine & RMG sector fumes after budgetLudhiana, the industrial hub of Punjab experienced a severe jerk on the last day of February, as Budget 2011 brought its key sewing machine and readymade garment (RMG) industries under the cover of central excise duty, thus compelling the sector representatives to launch an agitation against the decision.

A central excise duty of 10 percent on branded garments and one percent on sewing machines has been proposed under the Budget for 2011-12 fiscal.

Clothing and sewing machine industries are the core industries of Ludhiana. Thus, distressed by the proposal of subjecting these core industries to central excise duty imposition, the industry representatives have forewarned of launching a protest against the government if it does not revoke this proposal.

Representatives of the sewing machinery industry have forewarned that, they will not accept this duty imposition and would totally close down their businesses if the government does not withdraw its decision. Also, it would not be feasible for the Rs. 3.5 billion industry to continue with the business if the duty is imposed.

The RMG manufacturers too have considered this duty to be harsh, and have urged the Centre to reconsider the same. Also, it is being claimed that, the move would certainly affect the small scale RMG producers, and would even lead to a rise in the prices of branded garments.





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Tuesday, March 1, 2011

We are back on the growth track - CEO of Uster

We are back on the growth track - CEO of UsterUster Technologies AG, the leading high technology instrument manufacturer of products for quality measurement and certification for the textile industry, announced sales of CHF 132.8 million in FY 2010, an increase of 31.8% compared to the prior year figure of CHF 100.8 million. Growth was driven by significantly improved overall economic conditions in all major markets and the recovery in textile machinery investments spearheaded by the Asian markets, most notably China.

The Group further strengthened its strong market position and delivered impressive margins. EBITA reached CHF 34.6 million (2009: CHF 22.7 million) improving the margin to 26.0%. The Group's net result amounted to CHF 20.8 million (2009: CHF 1.2 million). It was enhanced by one-off effects arising from the resolution of tax issues from earlier years. In 2010, Uster Technologies Ltd further decreased its net debt to CHF 76.5 million thereby demonstrating the Company's strong cash generation power.

In 2010, the textile industry experienced a sharp recovery. At the same time raw material prices, especially cotton, and yarn prices increased compared to their levels at the beginning of the year. The result was further emphasis on the importance of quality and enhanced interest in measuring and testing systems. This positive development was supported by an improvement in credit and trade financing terms for the Group's customers in all major markets. China continued to be the leader in the textile industry whilst the mid-Asian markets including India, Turkey, Bangladesh and Pakistan recovered from the economic instability of previous years.





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