Home / Knowledge / News / Apparel/Garments / PC House acquires stake in Orient Garments
PC House acquires stake in Orient Garments
02
Aug '11
PC House Holdings has acquired a controlling stake in Orient Garments Limited (OGL), a Sri Lankan manufacturer and exporter of high-end apparel with special expertise in outerwear, casual wear and sportswear.

In a negotiated deal, Finco Group, the owners of OGL, has sold a 51 percent or 28 million shares at LKR 21.50, nearly LKR 13 below the market value to PC House Holdings for LKR 600 million.

While PC House Holdings, which is an unlisted firm, has purchased 12 million shares, its chairman Mohammed Rishan has purchased the remaining 16 million shares. PC House will now be looking for possible expansion opportunities and is already in talks with a Bangladesh-based group dealing in readymade garments.

After selling the controlling stake in OGL, Finco Group plans to expand in the leisure sector by building two resorts in Eastern Sri Lanka, where peace has returned after the end of the 30-year war.

OGL was established in 1982 as a producer of outerwear catering to the export market. Today, it employs over 3,500 people and manufactures around 3.5 million garments per month through 1,500 machines.

After OGL recently got listed on the Colombo bourse, its founders slowly decreased their stake in the company.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search