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Vertex Spinning Ltd has informed BSE
that Shri. Suresh Sharma CEO of the Company visited
various Plant at Italy, Promoters are running very
doubtful way looking to the future scared from Asian
Countries, like India, China, Bangladesh, Sri Lanka and
Pakistan. They are facing highly competition from Asian
Countries. The Company CEO has visited Top Industrialist
of Italy and after deep study, finally decided get hold
of two Leading Textile Mills at Italy on Equity
participation. Some of machinery will be shifted to the
Company's Plant at Nardhana, Distt. Dhule, Maharashtra
and value added product will be process on their
existing site.
The Company is one of the Leading
Knitted Manufacturing Unit in the South Asian Country
Wherein European Country Knitted Fabric are the best
valuable Textile products. The Company will sell its
product on good competitive price with Spain, Italy,
Germany, France, Turkey and various surrounding Country
in Knitted Blanket, which is the existing Products of
the Company. The Company has appointed Marketing
Distributor M/s. Regal Post Ltd, London, to market the
Company's products in United Kingdom and surrounding
Countries.
Further the Company also supported by
Leading Textile Industrial Group of Italy for Joint
Collaboration for Up-coming Production of Cotton Yarn of
the Company's Nardhana plant and they offered 30% Equity
participation. The Company has appointed Professional on
behalf of the Company to negotiate, M/s. S R R, SRL,
Italy and also appointed M/s. J S P, registered
Chartered Accountant and Cost Accountant to see the
possibility for Joint Venture profitability. The Company
has appointed professionally Mr. J Deol, 40 years
Experience in Textile Engineer of London and Mr. Alfios
Signory of Italy to advice for Plant and Equipments for
expansion of existing Plant. The Company's CEO visit
during May 29, 2006 to June 08, 2006 to U.K. and Italy. |