Companies

Lakshmi Mills to expand

Lakshmi Mills Company plans to increase its spindleage at its Kovilpatti unit. At present it has 66,000 spindles. “We want to increase it to one lakh spindles within 3-4 four years at an investment of Rs.60-75 crore,'' company Chairman and Managing Director S. Pathy said here.

The company, which will be celebrating its centenary on Wednesday, was bent on modernising. “Twenty five thousand spindles more do not ring a loud bell. But the automation undertaken in the 100-year old company still calls for a fair portion of investment,'' he added.

He pointed out that after 45 years of weaving, the company had sold out the equipment and exited the weaving sector. “We have relocated the viable machinery in the other three units.''

He was happy to note that the Kovilpatti unit producing polyester cotton had been doing well. “Production as well as productivity and the attendance have been good and we have been enjoying the confidence and support of the people around the area.''

The current proposal would raise the total number of workers by 300-350. “We are looking at a portion of this expansion for coarse count also. At present 60 is the average count. We are focussing more on exports.''


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Printable version | Jun 15, 2021 2:26:05 PM | https://www.thehindu.com/business/companies/Lakshmi-Mills-to-expand/article16011356.ece

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