Vertex Spinning Integrated Textile Park at Dhule, Maharashtra under development

Vertex Spinning Ltd has announced that the Company is Developing Integrated Textile Park, details as under.

Integrated Textile Park being Developed by the Company in District Dhule, Maharashtra, Dhule an important place in Maharashtra industrial scenario various industries on small scale. Knitwear, Hosiery, Weaving has been growing @10% over the past few year. Lifting of quantitative restrictions of quotas in the year 2005. The quality of Textile with reduction of cost and skill improvement compete the market. The Company has opened, Division of Integrated Textile Park and has acquired 400 acres land (1600000 sq meters) for 99 years in Nardhana industrial area Dist Dhule from MIDC. The project aimed Developing Dhule as a major cotton export city and to create employment for Rural Area on big scale as many as 10000 jobs or more. Company had chosen Dhule as one of the Cotton Producing District in the Maharashtra and there will be no shortage of the Raw material.

Mr. Suresh Sharma, CEO of the Company said the Company already developing one 160,000 Spindles mills on the same Textile Park and production of phase-I of 80,000 Spindles start in April 2007. Vertex Textile Park will boost because Developed country have fastly vacated the primary textile and clothing manufacturing activities. They are unable to compete with Asian Countries. Looking to the post quotas phase-out of the last year., it is becoming increasingly clear that large importing countries have yet to get dully adjusted to liberalized world trade in the Textiles and Clothing sector. Vertex Integrated Textile Park is bringing woolen hosiery unit, Cotton Knitted, Cotton Knitted Fabrics, Fur units, Dyeing and processing, woven textile unit, shawl manufacturers, technical textile, Spinning, Polyester, worsted, Acrylic, Texturing, Twisting, Seizing, Vertex also tie-up with 95 local new local Dhule Entrepreneur under work shed scheme. Vertex will spent Rs 120.46 Crores on infrastructure including grant from the Ministry of Textile Rs 40.00 Crores. Vertex and its Member of Integrated Textile Park Rs 23.77 Crores, Bank Rs 46.69 Crores and Institution Rs 10.00. Vertex Spinning will earned by the Integrated Textile Park activities in the 1st year Rs 13.36 Crores.

Improvement of Management skills the Company call exporters in the Textile Park. International business becomes competitive the Demand of the buyers increasing every day, therefore, the Company will improve area in new set-up of function such as Sampling, Merchandising, Costing, Social compliance, Purchase and Inventory Management, Production planning and control, Quality Control Systems, Washing, CAD, Engineering, HRD Systems, Training and Development of Managers and Staff, Total productivity Staff, Maintenance, Performance, Evaluation Management and International Marketing.

Vertex Textiles Park Joining the Textiles wagon to encourage 100 more new units. They are in new Areas like Medical Textile Knitted, Medical Textile woven, Geotextiles for Civil Engineering, Waterproof-breathable Fabrics, Textile in defense, Textile in Transportation, The technical textile have come to use in several areas for varied purpose. Vertex Textile have identified these industries.

Vertex Textile Park bringing the total investment Rs 3060.00 Crores inside of textile park Nardhana Industrial Area. Vertex integrated textile park will generate great value to the Company.

Source : Equity Bulls

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