Reliance Industries eyeing to buy part of textile unit of Alok

News Tags: Alok fully integrated textile unit, apparel fabric, bankruptcy proceedings, cotton yarn, defaulted on loans, discussions on with company promoters, home textile, interest may be focused on the polyester yarn unit, or all of the unit of Alok, polyester yarn, RBI identified Alok Industries, resolution professional, RIL, showing interest in part

Mumbai
Reliance Industries eyeing to buy part of  textile unit of Alok
Summary: 
Reliance Industries showing interest in part or all of the unit of Alok and discussions are on with the company promoters and the resolution professional, as per people familiar with the development.

Reliance Industries showing interest in part or all of the unit of Alok and discussions are on with the company promoters and the resolution professional, as per people familiar with the development.

The interest may be focused on the polyester yarn unit as all the business is not of interest to Reliance because it would not add synergies, but one or two divisions may be value accretive to it. But there was no response from Reliance Industries to comment on this.

https://economictimes.indiatimes.com/news/company/corporate-trends/reliance-industries-may-buy-unit-of-bankruptcy-hit-alok/articleshow/61585217.cms
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Uzbekistan plans to build another modern textile factory by late 2018

News Tags: 10000 tons of polyester fiber, 20 million running meters of mixed fabrics, 7000 tons of blended linen, chemicals, components, developing textile industry, exempted from customs payments, factory will annually produce, investment of $92 million, materials, modern textile factory, on imported equipment, polyester yarn, raw materials, Uzbekistan

Tashkent
Uzbekistan plans to build another modern textile factory by late 2018
Summary: 
Uzbekistan to build another modern textile factory till late next year which involve investment to the tune of $92 million as a consistent step aiming at developing its textile industry. The factory will annually produce 10,000 tons of polyester fiber, 10,000 tons of polyester yarn, 20 million running meters of mixed fabrics, and 7,000 tons of blended linen.

Uzbekistan to build another modern textile factory till late next year which involve investment to the tune of $92 million as a consistent step aiming at developing its textile industry. The factory will annually produce 10,000 tons of polyester fiber, 10,000 tons of polyester yarn, 20 million running meters of mixed fabrics, and 7,000 tons of blended linen.

https://www.azernews.az/region/120183.html
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Polyester prices stable to up in Asian markets

Polyester spun yarn market in China was slightly higher in June on the back of firm PSF cost amid moderate transactions. In Shengze, offers for 32s polyester yarn were up US cents 3 a kg from May.

In India, polyester yarn prices remained unchanged after being lifted in early June following hike in PSF prices. In India, 30 polyester knit yarns rolled over in Ludhiana market.

In Pakistan, polyester spinners were confronted by lack of export orders, in line with the rapid decline of overall exports. In Pakistan, 30s spun polyester was unchanged on the month.

News Tags: Polyester price, polyester spun yarn price in China, polyester spun yarn price in India, polyester spun yarn price in Pakistan, polyester yarn, polyester yarn price in Asia, PSY price

Recycled PSF producers seek continuation of tax advantage vis-à-vis virgin PSF in GST regime

News Tags: All India Recycled Fibre & Yarn Manufacturers Association, excise duty on PSF, fibres, GST rates, PET bottle scrap, PET bottles, PET recycling industry in India, polyester in India, polyester industry, polyester yarn, production of recycled PSF, PSF manufacturers, PSF producers in India, recycled polyester staple fibre (PSF), recycled PSF, recycling PET bottles, virgin PSF, yarns

Mumbai
Summary: 
The All India Recycled Fibre & Yarn Manufacturers Association, which represents 35 recycled polyester staple fibre (PSF) producers in India, has requested the Union Finance Ministry to maintain the current excise duty cost advantage of recycled

The All India Recycled Fibre & Yarn Manufacturers Association, which represents 35 recycled polyester staple fibre (PSF) producers in India, has requested the Union Finance Ministry to maintain the current excise duty cost advantage of recycled PSF vis-à-vis virgin PSF, while finalising the GST rates.

In the current tax regime, virgin PSF manufacturers are levied 12.5 per cent excise duty, while recycled PSF attracts 2 per cent concessional excise duty, due to which spinners get the cost advantage of 10.5 per cent, and so opt to buy recycled PSF.

0

Elgi Electric YCS wins a strategic order from Jyotirmaye Textiles

News Tags: cotton mercerised yarn, Elgi Electric, high twist yarns, Jyotirmaye Textiles, polyester yarn, rayon yarn, Textile engineering solutions, Textile Industry, textile innovations, textile machineries, Textile mills, viscose rich blends, Yarn Conditioning System (YCS), yarn quality, yarn selling price, yarn spinners

Mumbai
Summary: 
M/s Jyotirmaye Textiles, during ITME INDIA 2016, finalized its requirement of 1800kg YCS with Elgi Electric and released the order and advance along with Elgi Electric’s selling partner

M/s Jyotirmaye Textiles, during ITME INDIA 2016, finalized its requirement of 1800kg YCS with Elgi Electric and released the order and advance along with Elgi Electric’s selling partner M/s Voltas Limited.

Yarn Conditioning System (YCS) is the need of every spinner to improve the yarn quality like hairiness, strength, elongation as well increase in moisture gain to reap the full benefits and attain highest yarn selling price.

0

Nextt plans to introduce its popular brands to Indian consumers

News Tags: Alok Industries, apparel fabrics, Garments, Make in India initiative, manufacturer of home textile, Nextt, plan to introduce brands to Indian market, polyester yarn, sells popular brands, US based home textile company

New Delhi
Nextt plans to introduce its popular brands to Indian consumers
Summary: 
Nextt, a $500 million US based home textile company that manufactures home textiles, garments, apparel fabrics and polyester yarns, sells popular brands such as Trina Turk, Kathy Ireland, Jessica McClintock, Raymond Waites etc., and a key supplier to big retailers such as Walmart, Target, Kohl's, Dillard's etc. making plans to soon introduce its popular brands to Indian market.

Nextt, a $500 million US based home textile company that manufactures home textiles, garments, apparel fabrics and polyester yarns, sells popular brands such as Trina Turk, Kathy Ireland, Jessica McClintock, Raymond Waites etc., and a key supplier to big retailers such as Walmart, Target, Kohl's, Dillard's etc. making plans to soon introduce its popular brands to Indian market.

http://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/us-based-textile-company-nextt-to-introduce-its-brands-to-indian-market-soon/articleshow/46934999.cms
Company News
0

Spun yarn export prices recovering, China reduces import

News Tags: acrylic yarn, polyester yarn, Spun yarn export, viscose yarn, yarn export prices, yarn export to bangladesh, yarn export to china

Mumbai
Spun yarn export prices recovering, China reduces import
Summary: 
The fall in FOB per unit export price of spun yarns is apparently arrested in January. The month saw close to 115 million kg of all kinds of spun yarns exported from India worth Rs 2,470 crore or US$398 million, implying per unit realisation of US$2.98 per kg. This was US cents 3 higher than the

The fall in FOB per unit export price of spun yarns is apparently arrested in January. The month saw close to 115 million kg of all kinds of spun yarns exported from India worth Rs 2,470 crore or US$398 million, implying per unit realisation of US$2.98 per kg. This was US cents 3 higher than the realisation in December 2014. However, it was US cents 38 lower from January 2014.

Yarnsandfibers.com
0

Indian textile firms Q2 net profit affected over erratic costs and demand cycle

News Tags: apparel players, Arvind, demand cycle, Erratic costs, fabrics, high inflation, high interest rate, Indian textile industry, Indo Rama Synthetics, KKCL, low capactiy utilization, polyester yarn, raw material price, Raymonds, Textile, Vardhman Textiles, weakened rupee

Ahmedabad
Indian textile firms Q2 net profit affected over erratic costs and demand cycle
Summary: 
India is the second largest producer of textiles and garments in the world. The Indian textiles and apparel industry is expected to grow to a size of US$ 223 billion by 2021. But during the Q2 of financial year due to several factors including stiff competition in certain products, low capacity utilization, high inflation, high interest rates and weakened rupee has impacted in some way or the other on be it textiles, polyester yarn, fabrics or apparel players.

India is the second largest producer of textiles and garments in the world. The Indian textiles and apparel industry is expected to grow to a size of US$ 223 billion by 2021. But during the Q2 of financial year due to several factors including stiff competition in certain products, low capacity utilization, high inflation, high interest rates and weakened rupee has impacted in some way or the other on be it textiles, polyester yarn, fabrics or apparel players.

http://www.business-standard.com/article/companies/fluctuating-costs-demand-cycle-impact-textile-firms-q2-net-114120300902_1.html
Company News
0

Pakistan cotton market witnessed plummet in lint price due to slow demand

News Tags: cotton prices falling petroleum price, energy and gas, falling lint price, fiber consumer, Karachi Cotton Association, major world markets, man-made fibre, Pakistan cotton market, polyester yarn

Karachi
Pakistan cotton market witnessed plummet in lint price due to slow demand
Summary: 
The slow moving demand and falling lint prices in major world markets has lead to further drop in cotton prices on Monday in Pakistan cotton market. Moreover, the falling petroleum prices are attracting fibre consumers to go for polyester yarn and other man-made fibres which are also affecting cotton prices.

The slow moving demand and falling lint prices in major world markets has lead to further drop in cotton prices on Monday in Pakistan cotton market. Moreover, the falling petroleum prices are attracting fibre consumers to go for polyester yarn and other man-made fibres which are also affecting cotton prices.

The cotton economy is presently in great distress because on the one hand, reduced lint prices are hurting growers and, on the other end, the textile industry is facing shortage of energy and gas.

http://www.dawn.com/news/1145202/lint-prices-dip-on-low-demand
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Weavers expect yarn prices to fall as crude oil prices plummet

News Tags: basic raw material, dip in crude price, fall in yarn price, Federation of Gujarat Weavers Association, international market, MMF sector, polyester fabrics, polyester sari, polyester yarn, Surat powerloom weaver

Surat
Weavers expect yarn prices to fall as crude oil prices plummet
Summary: 
The powerloom weavers of Surat, he country's biggest man-made fabric (MMF) sector are buoyant following a dip in crude oil prices in the international market as it may decrease the yarn prices.

The powerloom weavers of Surat, he country's biggest man-made fabric (MMF) sector are buoyant following a dip in crude oil prices in the international market as it may decrease the yarn prices.

According to Industry sources, the crude oil prices have dipped below $92 per barrel in the international market which is the basic raw material for polyester yarn. This is going to put pressure on spinners to decrease the yarn prices.

http://timesofindia.indiatimes.com/city/surat/Weavers-upbeat-as-crude-oil-prices-plummet/articleshow/44396017.cms
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