Home textile factory in Bangladesh plans to double output this year

by:JIYALI     2021-08-15
Ritz Textile Co., Ltd. is a local home textile manufacturer in Bangladesh. This company plans to invest 70 million taka this year to double its output because the company's export orders continue to increase, which shows that the Bangladesh home textile industry is developing rapidly.   Shahidur Rahman, CEO of Ritz Textiles, said that since my factory has received US$1.5 million worth of orders for the 2007-08 fiscal year, I cannot accept new export orders. I must expand my production capacity before I can accept new orders.   At present, Ritz Textile Company, with an investment of 150 million taka, can produce 100,000 meters of home textiles every month.  Home textiles include bed sheets, blankets, pillows and pillowcases, curtains and floor mats, carpets and rugs, wall hangings, table cloths, small cushions, and kitchen textiles.   The annual growth rate of Bangladeshi home textiles is 20%. From July to March of this fiscal year, home textiles exported by enterprises reached US$211.25 million, compared with US$19285 million in the same period last year.   The Export Promotion Bureau has set a target of 310 million U.S. dollars for home textile exports this year. In the 2006-07 fiscal year, the total export of home textiles was approximately US$256.9 million.   Rahman said that Ritz only exported 700,000 US dollars of home textiles in 2006-07, and the company's home textile export target for 2007-08 is 1.5 million US dollars.  Rahman said that he will add 58 new textile machines this year, doubling the output.   IKEA in Switzerland and Little Wood and Maurice Phillip in the UK are big buyers of this factory.
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