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Towellers Signs Deal with Greek Textiles Group

Home textiles manufacturer Towellers Limited has signed a joint venture with 55-year-old Greek towel and textiles producer M/s Moutalaski/J. Sakaladis Group for transfer of technology and equipment.

"The relationship will offer us to next level of business growth beyond the two companies," said S.M. Obaid, ceo and managing director of 35-year-old Towellers. "By venturing in this relationship we will roll out customized jacquard hotel towels in a push to expand our customer base, top line growth, and increase profitability."

The equipment transfer and production will start in the next quarter. Towellers' full line will be available for sale in Greece, and in other parts of the world.

The relationship covers jacquard towels, hotel towels, sheets and table linens.