T T plans to exit spinning business

T T has been trying for exiting from its Spinning business. The Company has been successful in disposing off Company's Spinning machinery earlier located at Gajroula (U.P.) and Avinashi (Tirupur, District: Tamil Nadu).

However Company's ultra modern Green Spinning plant located in Cotton growing belt and at port town of Pipavav, Gujarat is most ideally located and has an unusually large freight savings in incoming Raw Cotton and Export shipments. The company is looking for a suitable outright buyer for its spinning facility. The company has already extended invitation to possible buyers and is about to start dealings.

The company is now concentrating and focusing on its Fabric, Garments Innerwear, Outerwear and its Retail business. It is also testing its strength in new fields such as bulk transportation, packaged foods and building up an import line as well. It is only because of such new initiatives that company has been able to overcome and reduce otherwise heavy losses.

In new future as new initiatives bloom, Company would have a right turn around very soon.

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