Raymond, textile and apparel major, plans to enter into a joint venture with Treves SA, the $1.3 billion French company, to foray into automobile furnishing sector.
Raymond and Treves SA will have a JV of 50:50 to market, sell and distribute knitted and woven textiles for internal furnishing of automobiles and related products.
Raymond has entered into a JV for marketing and technical know-how, to market automobile upholstery.
Treves SA is engaged in automotive parts and components, seat parts, textiles, fabrics and cloth.
An approval for a JV to enter into automobile furnishing sector has already come in, said Pradeep Bhandari, Group President.
Raymond also plans to increase manufacturing of wool and blended wool fabrics to 3 million meters by April.
marketing@alchempro.com
