COIMBATORE: Lakshmi Machine Works (LMW), the Coimbatore-based textile machinery manufacture, expects its exports to increase by 30-40 per cent this year.
Chief Financial Officer R. Rajendran told The Hindu here on Tuesday that exports during 2009-10 were Rs. 74 crore against Rs. 97 crore in 2008-09. This year, “We may be able to increase it by 30-40 per cent,” he said. LMW was exporting to Bangladesh, Far East countries and even Africa.
LMW, which set up a plant at Suzhou in China last year, had also received ring frame orders for three projects in China totalling 2.5 lakh spindles and these would be delivered by the end of 2010. Depending on the response, it hoped to sell its long frames too in China.
LMW would continue to focus this year on long ring frames and its new speed frame developed in collaboration with Grossenhainer Textil Maschine, Germany, he said. The company proposed to enter the real estate sector this year by developing a residential project here.