Textile giant David Whitehead (DWTL) is seeking over $30 million to expand capacity by setting up a new factory and procure critical spares, working capital as well as settle prejudicial obligations. The company needs $20 million for the new factory; $2 million for spares; $1,5 million for working capital; $1 million for shares acquisition; and $6 million for prejudicial obligations settlement Negotiations are being made to secure foreign currency for the procurement of spares and new plant for the fabric and spinning divisions which were likely to come from Germany and China.

Acquisition of new machinery is envisaged to result in the increase of production capacity by 150 per cent from 6 million meters to 15 million meters of fabric per annum and revenue of about $45 million. The new machinery will enhance competitiveness through improved quality consistencies, higher efficiencies and economies of scale, thereby ensuring that the company will be able to consolidate its position on the local market as well as overseas markets.