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 include exports of machinery parts worth Rs. 730 million made by the company to its China-based subsidiary.

For the January-March 2012 quarter, LMW’s net profit declined to Rs. 69.9 million, as against its net profit of Rs. 444 million reported during the same quarter of earlier fiscal.

Similarly, income from operations of the company slipped to Rs. 5.02 billion during the fourth quarter of last fiscal from Rs. 5.35 billion achieved during the last quarter of 2010-11.

For more details please visit : Lakshmi Machine Works net profit dips in FY12 @ fibre2fashion

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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 visit :  Walmart to sell UK-designed clothing in Chile @ fibre2fashion

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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, and is now able to provide textile testing solutions which will satisfy this need. 

The Egyptian textile industry is an attractive business proposition and its proximity to European markets gives manufacturers a logistical advantage. With low-capital cost and a high-labor intensive industry, serviced by a ready workforce, there is strong potential in the local consumer markets and the further area of exports. 

Egypt has seen a substantial increase in its textile product exports with values in 2010 reaching nearly 0.3 million US dollars. With export values of textile products reaching record numbers, exports increased 52% compared to the same first six month period of the previous year. 

For more info : SGS testing laboratory for Egyptian textile market

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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 skills of Verdol. Reyes believes that such knowledge would help it enhance the technological, commercial and financial strength of Verdol.

Making the acquisition announcement, Christophe Reyes, CEO of Reyes Groupe, and Jean-Claude Gnonlonfoun, General Manager of Verdol, said new resources would be put at the disposal of Verdol and its teams to bring improved service and wipe out past failures.


For more details please visit : French industrial group acquires SwissTex France @ fibre2fashion 

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Oerlikon Textile to tap key Turkish textile markets by ITM

Oerlikon Textile, market and technological leader in the field of textile machinery and plant, will be showing its strengths on an area of approx. 400 m2 at booth B210 in hall 2 during the ITM, which takes place in Istanbul on 21-24.4.2012. Show highlights include the Autocoro 8 rotor spinning machine, the POY take-up winding machine WINGS for polyamide 6, the BCF best seller S+ and the energy-saving Volkmann CT two-for-one twisting machine.

Oerlikon Textile will show pertinent exhibits for these products. In addition, Oerlikon invites visitors to a “virtual showroom” in which they can familiarize themselves with complex installations and process sequences in 3D.

“We aim to convince enterprises in the key textile markets of Turkey and the Middle East with our group motto ‘Innovation has a name’,” said Clement Woon, CEO of Oerlikon Textile since 1 January 2012, regarding the ITM 2012. Five leading brands and their products will be on show:

The market leader for filament systems is exhibiting its twelve-thread WINGS for polyamide 6 for the first time and setting new standards in processing the demanding polymer to produce good yarn grades. To prevail against the strong competition from China and India, Turkish filament yarn manufacturers are focusing increasingly on high-quality yarns for the carpet and automotive sectors. One information highlight for the traditionally strong Turkish texturing market is the ITMA innovation eAFK, an automatic texturing machine, along with its manual sibling eFK. The market leader for artificial turf filament systems is also showing its latest development for artificial sports turf: MoisTurf is the name of the equipment for producing hydrophilic monofilaments. Such yarns are used as artificial turf preferably in contact sports and ensure that water is distributed evenly and almost naturally on the yarn surface.

For more details please visit : Oerlikon Textile to tap key Turkish textile markets by ITM @ fibre2fashion

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