Sybly to spend Rs 25 cr on expansion
Sybly Industries Ltd today said that it would spend Rs 25 crore to expand and modernise its textile plant in Ghaziabad, Uttar Pradesh.
The company said it had also finalised an order worth Rs 10.8 crore for supplying a US-based company with polyester yarns over two years. After the expansion, its production capacity will nearly double to 5,900 tonnes, helping it realise revenues of Rs 60 crore in the business year to March 2006, and Rs 100 crore in the following fiscal, it added.
In the first phase of modernisation, new automated machines such as auto cone winders, balancing equipment and machines along with quality control testing equipment are being installed.
This will help the company improve its product quality and produce auto coned polyester yarn of the export quality. Besides, it will install a fibre dyeing plant with a capacity of 3,000 tonnes per annum.
In the second phase, the company will double its number of spindles to strengthen the production capacity of the unit and will also concentrate on the launch of its brand in the retail segment.
Source: thehindubusinessline