Fundamentals of Uniworth
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Financials of Uniworth
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The flagship of the Uniworth group, Uniworth Ltd, formerly Woolworth (India),which was the first to set up a 100% EOU to manufacture worsted wool spun yarn in India, approached the capital market in O ... ct.'90 to fund the first 5560 spindles. Its capacity has, since then, expanded in phases to 20,992 spindles. The company also set up backward-integration facilities to make wool tops from scoured wool and diversified into silk yarn manufacture from waste silk in collaboration with Cascami Seta Filature Della Venezie, Italy. The capacity of the silk yarn unit, which commenced production in Nov.'92, has been enhanced to 6400 spindles from 3200 spindles. A polywool division and a yarn dyeing unit, both 100% EOUs, have been set up. The second phase of the polywool division commenced production of polywool yarn on 28 Mar.'95. The dyeing unit offering value-added yarns in worsted wool, polywool, silk and blends, became operational on 4 Feb.'95. UL has been the country's largest exporter of wool and woollens for the past four years. Having achieved Export House status in 1992, Woolworth now aims at attaining the Trading House status. The International Wool Secretariat, UK, has granted use of the prestigious Woolmark symbol to Woolworth. It has also been accredited with the ISO 9002 certification. Other companies in the group, promoted by Woolworth, are Uniworth International (UIL) and Fabworth (India) (FIL). Uniworth Agro, another company promoted by WIL, is into sugar, paper, speciality chemicals and industrial alcohol. The company is currently implementing an expansion-cum-diversification plan at its Nagpur plant. It is setting a wool top manufacturing unit as a means of backward integration at Nagpur which is expected to be complete by Sep.'97. Read More
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