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| Thursday, 20 May 2004 |
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Cliftex in over Rs 100 million expansion program by Sudarshana Perera Cliftex Industries, a subsidiary of the Janatha Group in Wattala will diversify its business interests into the finishing, packaging and sandblasting sector in addition to its fabric manufacturing, washing and dyeing business. Cliftex, a wholly local owned venture will invest over Rs. 100 million for the earmarked expansion while offering over 150 employment opportunities. The company has also recently gone for another major expansion program with a washing plant and sandblasting plant investing Rs. 150 million and the company has been made a subsidiary under the name "Clifwash (Pvt) Ltd". Director, Cliftex and Clifwash (Pvt) Ltd, Feroze Anver told the Daily News that the earmarked expansion will facilitate the exporting process from Colombo as the final manufacturing process such as packing, finishing and inspection could be done at their factory. This hassle-free operation will not allow the outstation factories to get back their garments since sandblasting and washing, packaging and final inspection could be done at the Cliftex factory and could be exported from Colombo. "We will go for a major finishing plant with two large sandblasting machines and the project will get off the ground in July. We want to be a service organisation with modern features that would attract further business to our firm", he said. Allaying fears that the expiry of the Multi-Fibre Agreement will badly affect Sri Lanka's garment sector, he emphasized the need to go for modernisation and aggressive marketing to find alternative orders from other countries. "Garment manufacturers should think and act innovative to increase productivity which is the key success factor in this giant exercise. The local industry must capitalise on its ability to provide fully integrated solutions and manufacture world class products", he said. "We have received orders for the next year too and our marketing share is around 10%-15% and we are targeting to improve our marketing share with this expansion," he said. He also said that the government should give more subsidies and concessions to encourage local ventures. "We pay Rs. 2 million as our electricity charges and if we fail to pay it by one day, they impose a penalty which is very unfair. So the government should adopt a lenient approach to help develop local industrialists which is the backbone of the economy", he said. |
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