I am proud of the achievement Union Fabrics has made over the past two decade. Managing the company in this sector of high-volume, high-competition and low-margin is nothing short of a challenge. We constantly strive to increase the YOY sales to keep the cost of manufacturing from increasing, and continue to adopt new methods or technology of production to keep our cost in line with the global market. It is certainly my privilege and responsibility to lead Union Fabrics to the next level of sustainable growth through modernization and integration.
The company primarily has been in the weaving industry producing bedding fabrics on low-power, low-speed Projectile weaving machines. However, we have modernized our weaving and shifted the majority of our production to brand-new, state-of-the-art, high-speed, low operating cost Airjet weaving machines. By the end of 2015, we shall complete this phase with the installation of additional Eighty-One (81) brand-new Airjet weaving machines.
In the highly competitive field of made-ups, I believe the time has come in Pakistan for product pricing instead of individual process pricing. The vertical set-up is not just needed for the sake of diversification, but is a need of the hour for our survival. This industry can no longer afford to rely on outside vendors for cost and quality purposes. This is why I am pursuing the means to establish the finishing/processing setup in-house. This leap forward will provide more control over the quality, shorten our lead times, give us flexibility in production, and allow us to offer more products and more finishes/feel to our customers.
Chief Executive Officer