cheapbag214s
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 Posted: Sun 12:12, 18 Aug 2013 Post subject: Feng Tay to increase capacity at its shoe |
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Feng Tay to increase capacity at its shoe,[link widoczny dla zalogowanych]
Chennai, Nov. 6 The Taiwan-based Feng Tay Group,[link widoczny dla zalogowanych], which has set up a Rs 300-crore export-oriented unit for manufacturing sports shoes,[link widoczny dla zalogowanych], has initiated plans for the next phase of expansion.
According to reliable sources, this will mark the start of a continuous expansion programme,[link widoczny dla zalogowanych], in line with market requirements,[link widoczny dla zalogowanych], that will see more factories at the site through FDI.
This will make it the largest production facility owned by the Feng Tay, which has over 14 factories across South-East Asia. Feng Tay,[link widoczny dla zalogowanych], a Rs 4,[link widoczny dla zalogowanych],000-crore group,[link widoczny dla zalogowanych], has set up the SEZ through Cheyyar SEZ Developers,[link widoczny dla zalogowanych], which houses Lotus Footwear Enterprises,[link widoczny dla zalogowanych], the manufacturing unit.
On the production capacity, the source said,[link widoczny dla zalogowanych], the limitation is the skill level of workers who are recruited as raw hands and trained at the factory. Lotus Footwear now produces about 3.50 lakh pairs of shoes a month and the production is up by the day as skill levels improve and is set to reach close to about 4 lakh pairs in November.
In 2010 large factory like the present one will be in place, the source said. Subsequently, in stages, the company plans to set up more such facilities making it one of the largest FDIs in the region, the source said while declining to divulge any numbers. The key point would be that it is a labour intensive business and by March 2010 over 6,000 employees would be churning out shoes at the SEZ at the existing facility,[link widoczny dla zalogowanych], the source said.
This makes Lotus Footwear a beneficiary of a structured package of incentives the State Government has announced to labour intensive industries,[link widoczny dla zalogowanych]. The details of the incentive package are yet to be announced,[link widoczny dla zalogowanych].
Regarding the ongoing investments,[link widoczny dla zalogowanych], the source said that the company has brought in over Rs 160 crore and the rest is in the pipeline. Despite the global economic slowdown Feng Tay is among the few manufacturing facilities continuing with its expansion programme. The company is also in the process of expanding the related infrastructure, including warehousing for finished goods.
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