The Italy-based Itema Group is to commence production from its Coimbatore textile machinery unit under the Savio brand name from January 2008. Talking to a group of visiting journalists, company officials said that the new Indian textile spinning unit would begin production using the latest technology in ‘two-for-one twister’.
Itema Group has 10 companies worldwide as well as seven research and development centres. It is present in more than 90 countries, with an estimated 2,890 employees. With a turnover of about €667 million, the group spends over seven per cent of its earnings on R&D.
Among the various branches of the group are Itema Spinning, for spinning and winding machines, under the €210-million Savio brand; Itema Weaving for weaving machines; Itema Accessories; and Itema Electronics.
The Indian unit will be operating out of a 88,000 square metres facility, with a covered space of 15,000 square metres, in Coimbatore. The land for the new project was bought in 2007 and the buildings are at an early stage of completion. The group will eventually be investing close to €5 million in the new venture.
“The demand for fabrics and textiles does not come from India’s booming domestic market alone. With the removal of the quota regime, imports to the US markets are expected to grow handsomely, and India is facing a glorious opportunity,” the officials said.
Previously, the company had a presence in the Indian markets in collaboration with a leading textile machine tool maker, which was licensed to produce twister machines with Savio technology. Now, the company has decided to embark on its own course with the new production facility, the officials added.
Incorporation of the new two-for-one twister technology is expected to increase productivity by about 20 per cent and reduce energy consumption by another 20 per cent, the officials said.
The group has operations in the United States and China – Itema America and Itema Shanghai.
– Bangalore Bureau