Profiles of Textile and Apparel Companies in Sri Lanka
Released on = June 2, 2007, 1:27 am
Press Release Author = Bharat Book Bureau
Industry = Marketing
Press Release Summary = Textiles and apparel in Sri Lanka generate 53% of foreign earnings and employ one in six of the working population. The apparel industry suffers from a lack of raw materials although much investment has gone into textile mills, finishing plants and accessories factories
Press Release Body = Profiles of Textile and Apparel Companies in Sri Lanka
Textiles and apparel in Sri Lanka generate 53% of foreign earnings and employ one in six of the working population. The apparel industry suffers from a lack of raw materials although much investment has gone into textile mills, finishing plants and accessories factories. Brandix Lanka makes woven and knitted apparel. In 2003 it accounted for 6% of Sri Lanka's garment exports and for 0.4% of its GDP. The company aims to double its turnover by 2007. The Hirdaramani Group makes knitted and woven apparel for men, women and children. Its annual turnover exceeds US$100 mn, and it exports 18 mn garments a year. Lanka Equities makes brassières, lingerie, sleepwear, casual trousers, formal and casual shirts and blouses, and casual activewear jackets. Capacity amounts to 1 mn pieces a month and is expanding. MAS Holdings, built on the basis of partnerships, had a turnover of US$375 mn in 2003 after growing by 20-30% year-on- year since 1997. It has 25 manufacturing facilities in China, India, Indonesia, Madagascar, Maldives, Sri Lanka, and Vietnam. Ocean Lanka, Sri Lanka's largest circular knitting plant with a turnover of around US$42 mn a year, is a joint venture between Hong Kong-based Fountain Set, Brandix, and Hirdaramani. Quenby Printing Investments comprises two joint ventures in screen-printing, transfer printing and rotary printing. Textured Jersey Lanka is a venture between Hong Kong's Pacific Textiles and Linea Clothing-itself a joint venture between MAS Holdings and Brandix Lanka. The company makes knitted, dyed and finished weft knitted fabric and aims to double capacity by 2005
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