Bangalore-based Himatsingka Seide has commissioned its new bed linen manufacturing facility at the Hassan SEZ today. As against an estimated project outlay of Rs 400 crore, company estimates a total investment of Rs 450 crore for the facility. The new facility has an annual installed capacity of 20 million metres (corresponding to 9,000 sheet sets a day).Though the processing and making-up facilities have been commissioned with their full capacities in place, the weaving capacities will be commissioned in two phases. Currently, weaving Phase- I, with an annual capacity of approximately 10 million meters, has been commissioned with Phase- 2 under progress and likely to be completed by December 2007. Also, the 12.5 mw captive power plant is likely to be ready by March 2009. Over the past six-eight months, the company has also completed two international acquisitions in the home textiles space. The first was that of the Italian luxury brand Bellora followed by the acquisition of Divatex, the third largest distributor of bed linen in the United States. The combined investment towards the acquisitions of these firms stood at approximately Rs 300 crore. According to Shrikant Himatsingka, executive director, Himatsingka Seide, "Our investments in acquiring strong distribution networks in Europe and the United States has immense synergies with the new bedding facility. With 80% of the capacities placed and dedicated to the sourcing requirements of Bellora and Divatex, we should be able to stabilise the plant by the last quarter of this financial year. The full impact of optimal product mix and full utilisation will felt during the next financial year."
