Wanjie Group places order for PSF spinning plant

Wanjie Group Co. Ltd. based in China has ordered for a complete polyester staple fibre (PSF) spinning plant from Oerlikon Neumag based in Germany. The Germany-based company will extend engineering services apart from the machinery.

The plant is likely to be installed in the Shandong Province towards the end of this year and the manufacturing is likely to start by the middle of 2012. As per Oerlikon Neumag, Wanjie Group has the highest market share of staple fibre production that is meant for textile usage in the Shandong Province. The Chinese market is extremely competitive for the plant manufacturers.

China is one of the most rapidly growing economies of the world and through this order, the Germany-based company is likely to strengthen its hold in the Chinese market. Oerlikon Neumag has a very high export share for synthetic staple fibre plants. With such projects coming from China, the company can learn how to be competitive in the international market from its trading partner.

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Textile machinery parts & carding machine price up

The official Wholesale Price Index for 'All Commodities' (Base: 1993-94 = 100) for the month of July, 2010 rose by 1.0 percent to 262.5 (Provisional) from 259.8 (Provisional) for the previous month.

Inflation
The annual rate of inflation, based on monthly WPI, stood at 9.97% (Provisional) for the month of July, 2010 (over July, 2009) as compared to 10.55 % (Provisional) for the previous month and -0.54% during the corresponding month of the previous year. Build up inflation in the financial year so far was 3.59% compared to a build up of 4.60% in the corresponding period of the previous year.

The index for 'Non-Food Articles' group rose by 0.8 percent to 288.7 (Provisional) from 286.4 (Provisional) for the previous month due to higher prices of raw rubber (7%), castor seed (5%), raw silk and fodder (4% each), groundnut seed (3%), raw jute, copra and sunflower (2% each) and rape & mustard seed, gingelly seed and tobacco (1% each). However, the prices of niger seed (3%), raw cotton (2%) and linseed (1%) declined.

The index for 'Textiles' group declined by 0.4 percent to 163.6 (Provisional) from 164.2 (Provisional) for the previous month due to lower prices of hessian cloth (14%), hessian & sacking bags (3%), other cotton yarn (2%) and polyester staple fibre and nylon filament yarn (1% each). However, the prices of texturised yarn (3%), synthetic yarn (2%) and cotton yarn-cones and cotton yarn-hanks (1% each) moved up.

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