Lakshmi Machine Works net profit dips in FY12

Lakshmi Machine Works Limited (LMW), a leading textile machinery manufacturer in India, has posted net profit of Rs. 1.37 billion during fiscal year 2011-12 ending March 31, showing a 17 percent decline compared to net profit of Rs. 1.66 billion registered during fiscal 2010-11. However, LMW’s net sales increased by 17 percent year-on-year to Rs. 21.13 billion during last fiscal over its net sales of Rs. 18.04 billion reported during fiscal 2010-11. The Coimbatore-based company’s exports too grew to Rs. 3.21 billion during last fiscal, as against its exports worth Rs. 2.84 billion during the previous year. Last fiscal’s figures...

Read more »

Walmart to sell UK-designed clothing in Chile

Retail giant Walmart is set to begin selling UK designed apparels in its stores in Chile on a trial basis. The new range of clothing has been designed in the UK by Asda’s George business. Currently, Walmart stores in many countries offer garments under the George brand, but these are made locally. Walmart will experiment selling UK designed apparels at its 47 stores in Chile. The new range will be appropriate for the climate in that country, which follows southern hemisphere seasons. George at Asda said, it is an important experiment and hoped it would be a success for both kidswear and womenswear segments. For more details please...

Read more »

Expansion of SGS Egyptian Textile Testing Laboratory

SGS has announced the opening of its new premises in Cairo offering a complete suite of facilities and services, enhanced in capacity and capability, for the testing of textile and leather goods. The relocated testing laboratory is able to serve clients in local and international regions who are seeking access to the Egyptian textile market. With significant increases of textile exports and the newly enforced inspection certificate requirement for imported textile and leather products, the demand for consumer product testing services has been rising in Egypt. SGS has relocated its existing Egyptian textile testing laboratory, founded in 1996,...

Read more »

French industrial group acquires SwissTex France

Reyes Groupe, a French industrial group, has announced acquisition of all assets of another domestic firm SwissTex France SAS, under the new name Verdol. Previously known as RITM SAS, SwissTex supplies twisting and cabling machinery and extrusion lines to the filament yarn market. It also engages in processing yarns prepared from natural, artificial, synthetic and mineral fibres, and supplies textile yarns that cover twisting and cabling, covering and winding, as well as other types of technical yarns. Reyes said it has worked with SwissTex for over 25 years and it is well aware about the products, expertise and even complementary...

Read more »