INDIA : Birla Seeks Apparel Partner
Birla VXL, the textile company of SK Birla group, is searching for a strategic partner to lead it into the apparel business. The company's trousers unit at Faridabad, which has the capacity to produce 300,000 trousers, is currently underperforming, and Birla hopes to raise the unit's capacity to one million if it is successful in signing up an overseas apparel major. The company said that it has started talks with Japanese and American apparel companies. Birla is currently restructuring its operations and plans to create a silk-wool formals marketing subsidiary, focusing on fabric. It has already sold off its one-fourth share in a non-core business, VXL Landis @ GYR to Siemens.
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