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| 'Birla Century's 50% earnings will be from overseas' |
| Press Trust of India / Gujarat Oct 23, 2009, 16:33 IST |
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Fifty per cent of the Rs 500-crore earnings (expected annual turn over) of Birla Century will be from USA, UK, Europe and Japan, said its director Kumar Manglam Birla.
"We expect Birla Century to have a turnover of about Rs 500 crore, with around 50 per cent of earnings coming from exports to countries like USA, UK, Europe and Japan," Birla told reporters here on Thursday, after announcing the opening of its new state-of-the-art mill, Birla Century.
"By maintaining customer focus, earning valuable foreign exchange as the prime objective and bringing about a revolutionary approach in the manufacturing of cotton fabrics, Birla Century is poised to become another feather in the cap of Birla Group," he said.
Century Textiles and Industries, which has launched the Birla Century, is a flagship company of the diversified B K Birla Group.
Birla, Chairman of CTIL added: "Century Textiles and Industries (CTIL) over decades has multiplied manifold in respect of plants, products and reach. Birla Century is another landmark on the road to success for CTIL. The Birla Group foresees Birla Century as redefining the dynamics of the textile industry."
Commenting on the opening of the mill, Birla said: "We are extremely thankful to the Gujarat government, especially its chief minister Narendra Modi, for supporting our endeavors in continuing the legacy of the Birla Group."
Set up with an investment of about Rs 850 crore, Birla Century has state-of-the-art machines with about 95 per cent of them imported from countries such as Germany, Switzerland, Belgium and USA.
Birla Century also has an Effluent Treatment Plant with zero discharge and a captive power plant generating energy from piped natural gas.
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