Home / Knowledge / News / Apparel/Garments / Parent company of Brandix picks stake in Kuruwita Textile Mill
Parent company of Brandix picks stake in Kuruwita Textile Mill
Mar '09
In a filing made with the Colombo Stock Exchange, Kuruwita Textile Mills has announced that the parent company of its majority shareholder, Brandix Textile Holdings Ltd, Phoenix Ventures Ltd has acquired 771,900 shares of Kuruwita Textile Mills at Rs 25 per share.

The total amount of money spent in purchasing the stake amounts to Rs 19.2 million and according to company officials, one of the top ten shareholders of the company has sold the stake to Phoenix Ventures Ltd. Before the acquisition, the stake of the Brandix group in the company was 77.5 percent.

Kuruwita Textile Mills, which is a supplier of fabrics to export oriented garment manufacturing units, is facing troubled times since the beginning of 2008. For the nine months ending on December 31, 2008, it had toted up losses amounting to Rs 185 million compared to Rs 1.2 million in the same period of 2007.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Kerem Durdag
Biovation II LLC

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

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

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


Browse Our Archives


Advanced Search