SRF is shutting its technical textile plant in Thailand. Some of the assets, if found suitable, could be purchased by SRF for its Indian operations, subject to necessary approvals and in compliance with laws.
SRF is a manufacturer of technical textiles, engineering plastics, chemicals and packaging films. It has operations in India, Thailand and South Africa and commercial interests in more than 75 countries. The company has made investments of around Rs 3200 crores across all business segments in the last five years. More than 50 per cent of these investments were made in the chemicals business alone. In coated and laminated fabrics, the laminated fabrics segment performed satisfactorily in a tough competitive environment. The coated fabrics segment also turned around during the year, particularly in the off-season. The ongoing focus on becoming a solution provider along with the branding initiatives aimed at positioning the business as a value added entity has helped enhance the prospect of greater profitability.
SRF’s nylon tyre cord fabrics business continues to retain leadership in the domestic market. The company would continue to enlarge its portfolio of other product segments such as coated and laminated fabrics under the technical textiles business. The polyester yarn and fabrics segment turned around with its new focus on the yarn business for diversified industrial applications.