LMW sees increase in capacity utilisation
R. Rajendran, Chief Financial Officer of LMW, told on Wednesday that with the textile industry showing signs of revival “we hope there is scope for further improvement this year.”
The market started improving from August and the textile industry was registering good performance for the last two months.Hence, textile companies were going in for marginal expansions and some new projects too.“We have been able to improve sales in the second quarter and hope it will continue for the rest of the financial year,” he said.
The company had also installed two machines for trial run at the customers’ site in China through its 100 per cent owned subsidiary, he added.Even during the economic slowdown, China’a annual requirement was about four million spindles.By having a presence in China, the company hoped to capture a share in the Chinese market, he said.
