Diversified group Reliance Industries (RIL) which is engaged in textile business and also into synthetic fibre manufacturing, has partnered with Star Cotspin Limited, Bhilwara based leading manufacturer and exporter of sewing thread in India having shown the fastest growth in recent years.
As per the agreement, RILâ€™s Recron SHT will be the basic substrate for polyester sewing threads manufactured by Star Cotspin. This yarn will then be sold, cobranded with Recron SHT.
The partnership agreement was signed in New Delhi by Gunjan Sharma, Business Head, Polyester Staple Fibre Business, Reliance Industries Limited, and S K Chhajer, CEO, Star Cotspin.
Star Cotspin will be the first company in North India to be certified under the Recron SHT Branding Program which RIL launched last month.
RIL and Star Cotspin will jointly conduct research and development work to further enhance Recron SHT sewing threadâ€™s quality, and will also explore new business opportunities. Apart from branding the products, RIL will also provide marketing and technical support to Star Cotspin.
Reliance will also support Star Cotspin in creating awareness about standardised high quality sewing thread products among key stakeholders, especially spoolers and apparel manufacturers.
Star Cotspin is planning to undertake a 12,000 spindles expansion project. Six thousand spindles each is expected to be allocated to optical white and black yarn. The company expects to double the consumption of Recron SHT fibre by the end of 2017.
Star Cotspin has a total capacity of 25,500 spindles and monthly production of around 440 tonne of polyester yarn/thread. Almost 80 per cent of the companyâ€™s turnover is generated domestically, and the remaining 20 per cent comes from exports.
The partnership will help both companies to strengthen growth and customer trust.
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