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India : Spentex to expand thru’ Indian & International acquisitions
February 26, 2007 |  |
NEW DELHI:
Yarn maker, Spentex Industries is going ahead with ambitious plans to double its manufacturing capacity within two years through expansions of existing units and acquiring companies in India as well as abroad.
"We are aiming to almost double our capacity to 10 lakh spindles in the next two years from 5.70 lakh spindles at present. We would add 2.5 lakh spindles this year itself," Spentex Managing Director Mukund Choudhary said.
The company had earlier taken over Cimmco Spinners of S K Birla Group and Indo Rama Textiles.
It acquired Uzbekistan-based Tashkent-To'yetpa Tekstil for Rs364 crore last year.
Spentex would look for medium to large sized companies for acquisitions and has bought RPG's group facility in Baramati, assets in Ahmedabad from Bank of India, Indo Rama's units at Pitampura and Butibori and Amit Spinning in Kolhapur last year. | | |
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