Bhilwara based Sangam (India) plans to venture into the seamless garment segment with an investment of Rs. 120 crore. The company is to set up 10,000 spindles for slub yarn and a mercerising unit, besides modernising the processing division. The project, which is expected to be completed by March 2015, would be funded through a term loan of Rs. 89.50 crore and internal accruals.
The company would install 36 circular knitting machines imported from Santoni, Italy, the world leader in seamless knitting technology. The company aims to manufacture 10,000 pieces of seamless garments a day from the next financial year. Seamless knitted garments are used worldwide in the wellness industry, for yoga and sportswear. Seamless garment technology eliminates the process of fabric laying, cutting and sewing which leads to savings in terms of cost and time.
The upcoming segment knitting has been added to Sangam’s foray. At present, the knitting plant is already equipped with 18 knitting machines to produce single jersery, rib and interlock structure fabric. The annual production of the unit is 3000 tons. Sangam’s textile units – consisting of spinning, weaving and processing – at Bhilwara in Rajasthan are one of the largest and most modernised industries in the country. The group’s flagship brands ‘Sangam Suitings’ and ‘Sangam Denim’ are quite established. The fabric division has 251 looms with an annual production of 30 million meter fabric. It’s processing division – with an annual production capacity of 54 million meter fabric – is equipped with latest machinery for PV, PC and cotton fabric. Sangam also has a modern denim plant equipped with latest dyeing & finishing ranges for producing 40 million meters annually.
Sangam’s export markets include : Argentina, Bangladesh, Belgium, Brazil, Colombia, Chile, Egypt, Germany, Iran, Italy, Nepal, Poland, Portugal. Romania, South Africa, Spain, Switzerland, Turkey, Ukraine, USA, Morocco, Peru, Philippines, Syria, Canada, Egypt, Slovenia and Sri Lanka.
Sangam (India) reported a sales standalone turnover of Rs 375.03 crore and a net profit of Rs 11.34 crore for the quarter ended June 2014.