Foundation laid for composite textile project
Trident Ltd., the flagship company of the Trident Group, has announced the inauguration of the world’s largest terry towel plant and laying of the foundation-stone for its composite textile project at Budni in Madhya Pradesh.
The occasion was graced by the presence of the Chief Minister of Madhya Pradesh, Mr. Shivraj Singh Chouhan, and the State Minister for Revenue and Rehabilitation, Mr. Rampal Singh.
The world’s largest terry towel plant opened by Trident comprises 300 looms and will add about Rs. 1,800 crores to its annual revenue. With this expansion, the installed capacity of Trident has increased to 688 looms capable of producing 90,000 TPA of terry towels, making it the largest manufacturer of terry towels in the world. The inauguration of this plant marks the completion of the first phase of composite textile project undertaken by the company in Budni.
Headquartered in Ludhiana, Trident is the largest terry towel and wheat straw-based paper manufacturer in the world. With the establishment of the state-of-the-art manufacturing processes and systems, coupled with appropriate human capital and credentials, Trident has received several accolades from its patrons in recognition of delivering high quality standards and its customer-centric approach.
The company operates in two major business segments – Textiles and Paper – with its manufacturing facilities located in Punjab and Madhya Pradesh. Trident’s customer base spans over more than 75 countries across six continents and comprises global retail brands like Ralph Lauren, Calvin Klein, JCPenney, IKEA, Target, Wal-Mart, Macy’s, Kohl’s, Sears, Sam’s Club and Burlington. With export turnover accounting for about 50 per cent of its total sales, Trident has emerged as one of the world’s largest integrated home textile manufacturers.
Further, the company laid the foundation for the second phase of its composite textile project comprising two spinning units, a bed linen unit and a captive power plant. This project will have 500 looms capable of producing 3.6 million metres of bed linen/month, 1.85 lakh yarn spindles and 60 MW of captive power. While the captive power plant will be commissioned in September 2016, the bed linen and spinning units are expected to be operational by September 2015. All this will add about Rs. 1,200 crores to the annual revenue.
The company would make a total investment of Rs. 2,400 crores for its composite textile project in Budni and engage about 25,000 families across all its business verticals. The composite textile project is fully vertically integrated: from cotton-to-terry towel and from cotton-to-bed linen. This would provide the company a natural cushion against variations in cotton and yarn prices. Moreover, the company would benefit from economies of scale, lower finance cost due to interest subsidy from Central and State Governments, proximity to ports and easy availability of raw materials.
Commenting on the expansion projects, Mr. Rajinder Gupta, Chairman at Trident Group, said: “Today we move a step closer to our dream of becoming the world’s largest home textile company. With entry into the bed linen segment, we intend to improve our product basket by offering a complete range of home textile products. With greater vertical integration and our emphasis on value-added products combined with prudent financial management, we believe that this expansion would be a step further towards our goal of registering a strong performance and delivering better returns to our shareholders.”
Keeping pace with the technology, the company has partnered with global best technology suppliers like Karl Mayer, Toyota, Staubli, Benninger, Anglada, Muratec, LMW, Trutzschler, Oerlikon, Savio, etc. for its expansion & diversification plans. It has also been laying special emphasis on branding initiatives in paper and textile divisions; has launched various brands such as Trident Classic, Trident Indulgence, Trident Home Essentials and Trident Everyday in the textiles division; and Trident Natural, Trident My Choice, Trident Eco Green, Trident Spectra and Trident Royal Touch in the paper division, which have been well received in the market. Further, the company has launched new towel brands such as Trident Aroma, Trident Organica and Trident Cuddlies during this festive season.