 "Himatsingka Seide to invest Rs 1,281 cr in Hassan plant for expansion")
Himatsingka Seide, a vertically integrated home textile major, will invest Rs 1281 crores for expanding the group's manufacturing facility at Hassan, Karnataka. The investments entail an increase in its current sheeting capacity, backward integration into spinning and a foray into terry towels. The investments will be carried out in phases over the next three years.
The company will enhance the sheeting capacity from 23 million meters per annum (MMPA) to 46 MMPA. In addition, Himatsingka Seide will set spinning and terry towels facilities with capacity of 211000 spindles and 25000 tonnes per annum respectively.
Commenting on the expansion, Shrikant Himatsingka, executive director, Himatsingka Seide, said, “These growth initiatives are synergistic with our current nature and scale of operations and they will help consolidate the Group’s position in the global home textile space.”
The Himatsingka Group operates over 12 brands globally in the home textiles space. Its brand portfolio includes marquee brands such as Calvin Klein Home, Barbara Berry, Espirit, Bellora and Atmosphere. In addition, the group also has a strong foothold in the private label space.
The company will enhance the sheeting capacity from 23 million meters per annum (MMPA) to 46 MMPA. In addition, Himatsingka Seide will set spinning and terry towels facilities with capacity of 211000 spindles and 25000 tonnes per annum respectively.
Commenting on the expansion, Shrikant Himatsingka, executive director, Himatsingka Seide, said, “These growth initiatives are synergistic with our current nature and scale of operations and they will help consolidate the Group’s position in the global home textile space.”
The Himatsingka Group operates over 12 brands globally in the home textiles space. Its brand portfolio includes marquee brands such as Calvin Klein Home, Barbara Berry, Espirit, Bellora and Atmosphere. In addition, the group also has a strong foothold in the private label space.