MARKET & ECONOMY
Uster Technologies is to have a new Chief Executive, in a carefully-planned and phased handover by April 2016. At his own request, current CEO Dr Geoffrey Scott will take early retirement, and will be succeeded by Thomas Nasiou, currently the company´s Head of Textile Technology.
The proposal of Toyota Industries India Private Limited to set up a textile and spinning machinery manufacturing unit with an investment of Rs 410 crore at Vasanthanarasapura Industrial Area in Tumakuru district was cleared by the Karnataka State High-Level Clearance Committee on September 14, 2015.
S Srinivasan, Founder-Chairman of Tex Tech Industries, passed away at the age of 87. Srinivasan was born on Janaury 7, 1928 and he completed his engineering in Mumbai. He started his career in Escorts Ltd-Tractor division as Sales Manager.
Bilateral collaboration and technical exchanges between United States and India in technical textiles are planned as a part of the United States and India strategic and commercial cooperation. The US Secretary of State John Kerry and US Commerce Secretary, Penny Pritzker welcomed India´s External Affairs Minister, Sushma Swaraj
The rapid development in the technical textiles and apparel industries has had a positive impact on the demand for lyocell fibres, states Transparency Market Research in its recent report. The 62-page research publication reveals that registering a strong CAGR of 7.90 per cent during the forecast period, the global lyocell fibres market is poised to rise from $692.7 million in 2013 to $1,179.5 million by 2020.
India´s leading denim producer, Suryalakshmi Cotton has successfully commissioned its 4th state-of-the-art plant in Amravati, Maharashtra. Built at a cost of Rs 131 crore, the fully automated and ultra-modern unit will manufacture high-grade, value-added fancy yarns such as Ring Slub, Stretch, Elli Twist and Compact.
Mayank Jayantilal Roy, Managing Director of Excel Industrial Gears Pvt Ltd, Mumbai, has been elected the President of the Indian Textile Accessories & Machinery Manufacturers´ Association (ITAMMA) for 2015-2016. He has been a member of and serving in Managing Committee of ITAMMA for more than a decade.
Birla Cellulose, a division of the $40 billion Aditya Birla Group and a world leader in speciality viscose staple fibres (VSF) has embarked on a journey of adding more collaboration?s in China. And to do so, is participating at Intertextile Shanghai Apparel Fabrics, which runs from October 13-15, 2015 in Shanghai at stall No. 5.32, E32.
At the ITMA Milano 2015, the Textile Group Companies: Santoni ? Lonati ?Dinema? Tecnopea and ITS Machina Lonati, all together under a group synergy are aiming at offering a complete response to textile and knitting requests.