Spentex Industries, the country's biggest yarn maker, has chalked out ambitious plans to nearly double its manufacturing capacity in two years by expanding existing units and acquiring companies in India and abroad. "We are aiming to almost double our capacity to 1 million spindles in the next two years from 570,000 spindles at present. We would add 250,000 spindles this year itself," Spentex managing director Mukund Choudhary said.

The company had hit the headlines for big time takeovers including Cimmco Spinners of S K BIRLA GROUP and INDO RAMA TEXTILES.

Last year, it also acquired Uzbekistan-based Tashkent-To'yetpa Tekstil for Rs 3.64 billion (US$82.3 million), which catapulted it ahead of Vardhman group in terms of manufacturing capacity.

Source: Asia In Focus