Incorporated as a public limited company in Nov.'93 and promoted by Naresh Bhandari, Bhandari Hosiery Exports (BHEL) manufactures cotton knitted garments for export. BHEL was formed by taking over the running business of Bhandari Hosiery Exports, a partnership firm, in Jan.'94. BHEL exports its products to Germany, Belgium, France, the Netherlands, Norway, the US, the UK, Canada, Hungary and Finland. The EEC countries alsooffer a huge market for knitted and readymade cotton garments. The promoters also promoted another company named Bhandari Export Industries as a joint venture with PSIDE to manufacture cotton yarn (cap. : 25,000 spindles) under its backward integration programme. The company has fully implemented its project for expansion of its manufacturing facilities for the production and export of cotton knitted garments within the stipulated project cost and according to schedule, which has started showing good results.