Salfi Textile Mills
The mill came into existence in 1969.
Originally founded as Al’Ata Textile Mills the unit was established with an initial capacity of 25000 spindles which came into production in June 1970. Due to losses the mills closed down in 1974 and remained interactive for nine years. In 1983 it was revived under the management of Mr. Mohd Salman Salfi. At the time of the revival the financial position of the firm was precarious; the initial paid up capital of Rs.10 Million had turned into a net loss of 69.35 Million.
The revival of the mill took place only because of a successful negotiation of a moratorium by the new management. All long term debt repayment and interest were frozen for a period of ten years. Of the original 25000 spindles 3000 had to be scrapped and several other machines in the production line needed BMR and replacement. Although able to restart production on 16000 spindles the new management however was unable to successfully face the challenge of reviving the unit.
The renamed Salfi Textile Mills changed hands once again and the current management took over in February 1984. Successfully negotiating a new long term loan and adding new capital funds the father-son team of Mr. Anwar Ahmed and Mr. Shahid Anwar drawing from their previous experience of reviving a sick spinning unit were able to turnaround the fortunes of the company. Originally a producer of cotton yarn the mill shifted its focus to synthetic yarn in the late eighties and was fully converted to spinning of man made synthetic fiber in early 1990. A sustained period of growth followed and plant capacity was increased to 39000 spindles and timely BMR was done. Today STM stands at the threshold of another major modernization and BMR journey which will hopefully sustain its growth and profitability.
Copyright © 2002 TATA Industries.
Why did they go to"Pakistan"when they have been labeled as the biggest industrial conglomerate in"INDIA",best employer,trustworthy and the founderers of Industrial India.
The reasons are many and "TATA"would not bend to blackmail.
My views right or wrong are as under.
Labour trouble.
Statutory Law enforcement officials harassments.
Labour Law enforcement officials interference in day to day work.
Excise officials probes.
Power cuts and failures.
ESI regulations formulated for vote gain.
Compulsory Bonus payments with out valid reasons.
There are many more.....
HOW ARE OTHER'S MANAGING - BY OTHER METHODS.
Pakistan no Problem.
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