KIRLOSKAR BROTHFRS-Margins under Pressure

GARDEN SILK Amalgamation With Vareli Textile GARDEN SILK MILLS is to diversify into manfaeture of polyester filament yarn (PFY) and textile meehinery. The company has signed a memorandum of understanding with Toray Industries of Japan for setting up a 15,000 tonnes per annum capacity PFY plant. The first phase is estimated to cost approximately Rs 110 crore, for which the company proposes to avail of loan assistance from the financial institutions. The proposed PFY project will primarily focus on the manufacture of speciality yarn of the kind which is presently imported.