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RIL, JM Financial bid jointly to buy Alok
Reliance Industries Ltd (RIL) said that it has bid jointly with JM Financial Asset Reconstruction Company to acquire the -ridden textile manufacturer Alok Industries. In a clarification to stock exchanges, RIL said it is awaiting the outcome of the process.
TEI must sharpen competitive edge: ITAMMA chief
As the textile industry moves more into innovative, value-added products, the demands on the machinery and spares manufacturers for quality, innovation, on-time service, turnkey solutions, R&D are increasing rapidly.
Positive trend continues for Italian machinery
The positive trend in textile machinery orders continues through to the third quarter of 2017. ACIMIT president Alessandro Zucchi states, "Growth for the Italian market is progressing, albeit following a more contained rhythm.
Brexit will not impact textiles export to UK
With the referendum to quit European Union, the impact on India’s textiles export to Great Britain will be minimal although it is a major market for apparels made in India. However, there could be initial turmoil due to structural changes and fresh negotiations being finalised. In perspective, EU imported textiles worth $235 billion in 2015 from the world. Of this, UK accounted for 15 per cent or $35 billion. Thus, the country is one of the largest markets for textiles including fibres, yarns, fabrics, apparels and other textile products. However, it is not a major supplier of this industry and thus will have negligible impact on sourcing.
Mayer & Cie.'s successful financial year
This year will have been one of the most successful financial years in the recent history of German circular knitting machine manufacturer Mayer & Cie. In its 110th year in business, the company has manufactured and sold more machines in the past 10 years or so.