Gujarat based producer of polyester multifilament yarn has commissioned and begun commercial production of a 3,500 tons per annum carpet yarn manufacturing plant. “This is a valued added product and will generate additional revenue of Rs 75 crore for the company,” Sumeet Industries said in a BSE filing. It added that it will export 90 per cent of production of carpet yarns to overseas buyers and also add a substantial amount of profit in its total earnings. The company is also in the process of exploring and adding some more value added category of yarns in its product basket. The promoters have been engaged in trading of synthetic fabric and were among the few early movers to start synthetic processing in Surat in early 1990s. Sensing great potential in textiles, it diversified into manufacturing of yarn in the early 1990s and established Sumeet Synthetics Pvt Ltd and then later a unit to manufacture polypropylene multifilament yarn.
