Welspun India Ltd (WIL) on 9 February 2017 entered into a co-operation agreement with Cotton Egypt Association (CEA) to promote and market Egyptian cotton products across the world.
Welspun will help the Cotton Egypt Association in creating marketing programmes and execute them using its extensive global network. The agreement will be aimed at boosting Welspun India's Egypt operations by setting up a manufacturing facility for Egyptian Cotton home textile products.
Highlights of the Agreement
• Under the agreement, Welspun India Ltd and Cotton Egypt Association will work together to create programmes for promotion of Egyptian Cotton logo in the retail markets across the globe.
• Welspun India will invest around USD 3 million in a stage wise manner over next few years to support the joint initiatives of both the companies.
• The Cotton Egypt Association also granted the right to use the Egyptian Cotton logo to Welspun India for five years until 2022.
• Welspun will undertake stringent audit and traceability programme to ensure the best product quality that is certifiable, verifiable and auditable.
• The agreement will also help in enhancing the complete supply chain of the Egyptian Cotton starting from cultivation to the final product.
• It will benefit the Egyptian farmer and the industry as a whole.
About Welspun India Ltd
• Widely regarded as an innovations driven company, Welspun India Ltd has nine global patents in its pocket currently.
• The company is famously known for its best-selling innovation Hygrocotton.
• Its latest innovation Nanocore has received Asthma and Allergy Free Certification for bedding products in the US.
• The third innovation of the company Drylon achieved good traction with the launch of new varieties.
• Welspun has its global footprint in the United States, China, Middle East and in the United Kingdom.
Who: Welspun India Ltd
When: 9 February 2017