RIL to enter US car-furnishing segment through Vimal
RIL to enter US car-furnishing segment through Vimal Reliance Industries (RIL) is planning to take the brand `Vimal` to the global stage by focusing on a niche multi-billion dollar global automotive furnishing business, reports DNA RIL has entered into a strategic tie-up with a US based company for building a strong supply chain platform, that will enable it to enter the US automotive market, and enrol as a vendor to the big three automobile makers in the US. It is said to be a a distribution company based in the US. RIL will look at the seat and door furnishings including material for covering automobile floors. >The company has also announced its plan to make `Vimal` as the leading textile brand by 2009-10. It is devising new brands like 100% wool & machine washable wool rich fabrics, blends of natural fibers like bamboo, cotton, soya silk, wool that offer wrinkle free and anti-microbial properties.
Shares of the company declined Rs 6.05, or 0.3%, to end at Rs 2,028.45. The total volume of shares traded was 362,334 at the BSE (Monday).
