LRT formed JV with Itay's Capio !
LAKSHMI Ring Travellers (LRT), part of the textile machinery manufacturing major Lakshmi Machine Works (LMW), has formed a joint venture with Italy-based Caipo Automazione Industriale for manufacturing slub and core yarn (popularly known as fashion yarn). Fashion yarn finds its application in denim, home furnishings, premium shirting and in women’s fashion segment. Addressing a press conference, Mr Francesco Campigli, sales director, Caipo, said that the JV was formed to tap the growing market for fashion yarn in India. “The global yarn production in 2006 was 13 lakh tonnes and is projected to be 47 lakh tonnes by 2010. The market for slub yarn world-wide is around 2-3% of all yarn produced and is likely to grow 10% within three years,” Mr Campigli added.
