Takes advantage of Technology Upgradation Fund Scheme
To add more spindles and stitching machinesFirst phase will be over by March 2008
TIRUPUR: As the expansion project of Rs. 156 crore is nearing completion, the Tirupur-based vertically integrated knitwear export house, Best Corporation, is all set to expand its production capacity at an outlay of Rs. 350 crore.
With the Technology Upgradation Fund Schemeset to expire by March next, the company proposes to add its spinning and garmenting capacity to take advantage of the scheme.
According to its Managing Director, R. Rajkumar, the company will add another 72,000 spindles and 1,000 stitching machines. The company now has 65,000 spindles and 1,600 stitching machines in two phases.
The first phase will begin in January and is expected to be over in March 2008. The next phase will become operational by December 2008.
The garmenting unit will have a state-of-the-art embroidery and chest printing machines. All the facilities will come up near Dharapuram as Tirupur is facing shortage of labour.
The company's Rs. 40 crore processing house, Best Colour Solutions at Perundhurai, will start operations by December.
With rising demand from existing and foreign customers, the company was on a continuous expansion mode, Mr. Rajkumar said.
Once the entire expansion programme was over, he hoped that the turnover would touch Rs. 550 crore in 2010.
As the company gained expertise dealing with leading brands and chain stores, it was planning to foray into the children wear sector.