Promoted by the Uniworth group, controlled by the NRI Lohias, Fabworth (India), now renamed Uniworth Textiles Ltd (UTL) has set up a 100% EOU for weaving woollen / worsted / blended fabrics and also a finishing unit. In Mar.'94, UTL came out with a public issue to part-finance the project. While the weaving unit (54 looms) commenced operations in May'93, the finishing unit was commissioned in Apr.'94.
Around 75% of UTL's production is exported, marketed by a group concern, Uniworth International, through its global marketing network. The introduction of the Uniworth Collection of international quality fine suitings in the niche domestic consumer segment has created a significant impact. In 1993-94, UTL earned the distinction of being the third-largest exporter in the woollen / worsted fabric sector. It is raising the weaving capacity of the Raipur plant from 3.9 mln mtr to 6 mln mtr by adding 27 looms.
In 1994-95 the company was awarded the Certificate of merit for growth by WWEPC.
UTL plans to penetrate countries in UAE, GIS and Latin America and also tie up with various international designer and apparel manufacturer for diversifying into high quality fabrics.
The company is planning to develop Siro Spun Yarn Dyed Fabric.