Abhishek Ind- Mundotextil Plan JV
Abhishek Industries Ltd has announced that it is entering into a JV with Portugal-based Mundotextil Industrias to produce luxury linen and other home textile products.
The JV is expected to cater to the the ever changing market requirements of European Union and will consolidate innovative product designs with production excellence to create one of the largest design, production ft marketing platform for supply of fine luxury linen & other home textile products for the customers world wide at most competitive rates.
"Design & Innovation", "Quality & Capacity", "Flexibility and quick response" at a competitive cost are the leading guidelines for this proposed "Joint Venture".
Abhishek Industries Ltd, is a Ludhiana- based textile company, which was set up in 1990 as a JV with Punjab State Industrial Development Corporation (PSIDC) to manufacture cotton yarn.It is the flagship company of the ‘Trident Group’. AIL’s is into 2 business segments; ‘Textiles’ (Yarns and Terry Towels) and 'Paper & Chemicals’. The company is the largest manufacturer and exporter of terry towel in India. It has a sales volume of Rs. 7000 Mn out of which 45% is export related.
Mundotextil, situated in Vizela - Portugal was established in 1975. It is today the biggest manufacturer of terry towels and, other bath textiles in Europe.
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