Textiles Firm to Enter Tyre Business
Indian textiles company Gupta Synthetics seems set to be entering the tyre raw materials market after announcing plans to invest 2.23 billion rupees (£25.5 million) to set up a nylon tyre cord fabric (NTCF) making and nylon filament yarn (NFY) making factory in the city of Silvassa.
The facility will produce the cord fabric and yarn for the tyre, textile and furniture industries and will have an output capacity of 8,128 tonnes per year. The NFY side of the operations should be producing output by October 2007 while NTCF production fabric will commence in 2008.
Suni Gupta, director of Gupta Synthetics, said that the company has already spoken with a number of tyre manufacturers, including MRF, Ceat, Apollo and J&K tyres. Once successful manufacturing trials have been conducted the company will proceed with its expansion plans. “We want to bridge the wide demand-supply gap in the nylon tyre cord fabric segment in the country,” said Mr. Gupta.