INDIA-ITALY JV
February 1st, 2004
BY SWINEETHA DIAS WICKRAMANAYAKEAN INDIAN-Italian sole-making joint venture is doubling its production. Suolificio Chennai (Madras), linking India's Forward Shoes with Italy's sole maker Suolificio Malaspina, was set up in 2001 to produce 500,000 pairs of soles; it doubled its capacity last year and plans to do so again this year. Suolificio Malaspina, says Indian financial press reports, which has provided technical expertise, is now considering taking an equity stake in Suolificio Chennai. The business initially supplied soles to Forward Shoes, but because the ...
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