Raymond chairman Vijaypat Singhania has set a new world record for the highest flight in a hot air balloon.
The 67-year-old Indian millionaire (right) reached 69,852 feet in his balloon over Bombay on November 26th beating the previous record of 64,997 feet set by Per Lindstrand of Sweden in Texas in June 1988.
Mr Lindstrand is also involved in the fabrics industry as the head of companies manufacturing balloons and large-scale inflatable textile structures.
Colin Prescott, one of the two British designers of Mr Singhania's 40-ton balloon said the new record could not be verified immediately, and sealed instruments have been sent to the Fédération Aéronautique Internationale in Switzerland for certification.
"This goes to show to the world that we are not bullock cart drivers," Mr Singhania said.
Raymond Ltd. of India had profits of Rs1.16 billion ($26.6 million) in its 2004/2005 financial year, and total revenues of Rs.11.56 billion.
Raymond Textiles is India's leading producer of worsted suiting fabric with over 60% market share. With a capacity of 25 million metres of wool and wool-blended fabrics, it is the world's third largest integrated manufacturer. Raymond Denim has an installed capacity of 16 million metres and produces high quality ring denims. It ranks among the top three producers in India.
