| CTM Textile Mills, processor of cotton bed sheets, is planning to foray into printing business.
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| As an option to printing, CTM is also considering dyeing business. CTM will invest around Rs 100 crore. Moreover, with focus on 100 per cent export to the European market, the company is seeking facility outside octroi limits in Ahmedabad.
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| "We have decided to foray in other segments like manufacturing of furnishing cloth or printing or dyeing as everyone seems to be entering into wider width bed sheets," said Mohanlal Agrawal, CMD of CTM Textile Mills.
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| He added that the company might invest in purchasing looms for bed sheets.
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| "Currently our production is 50,000 metre per day in each wider width as well as single bed sheets. Our Rs 100 crore company is exporting Rs 80 crore of bed sheets every year and the rest is cater to the domestic market," he said.
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| The company has two facilities in Ahmedabad including processing unit on the national highway and export house at Vatwa.
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| "We are now looking for a area, to establish new manufacturing unit, outside the peripherals of the octroi check post in the city," said Agrawal.
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| Talking about the funds investment, "We will take care of the part investment in this new venture and the rest will be financed by our banks."
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| He added that currently the company is seeking land outside the city octroi limit.
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| "We will announce plans of our new facility once we purchase a land as the project depends on the availability of land," said Agrawal. |
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