Home / Knowledge / News / Textiles / A&E to increase stake in Indian JV VYTL to 89%
A&E to increase stake in Indian JV VYTL to 89%
31
Aug '16
Courtesy: A&E
Courtesy: A&E
American & Efird Global (A&E) will acquire additional 40 per cent of share capital in Vardhman Yarns and Threads (VYTL) from its JV  partner Vardhman Textiles, raising its stake in the JV to 89 per cent. A&E has received the nod for buying the additional stake from India’s Competition Commission. This transaction makes A&E the majority shareholder in VYTL.

VYTL manufactures sewing and other specialty threads, in which A&E earlier held a 49 per cent stake, while the rest was with Vardhman Textiles.

According to media reports, this transaction makes A&E the majority shareholder in VYTL, while Vardhman will now hold a minority stake.

The Competition Commission noted that the proposed combination will not have an appreciable adverse effect on competition in India, since both VYTL and Gutermann India (GI), a wholly-owned subsidiary of A&E, have insignificant market shares in the apparel, automotive and specialty threads segments. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: European Commission/European Union

Textiles | On 26th May 2018

EU set to negotiate FTAs with Australia & New Zealand

The European Union is all set to begin negotiations for free trade...

US bans import of cotton goods from Turkmenistan

Textiles | On 26th May 2018

US bans import of cotton goods from Turkmenistan

The US Customs and Border Protection (CBP) has issued a Withhold...

FPCCI prepares report on Pakistan's export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan's export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Urmil Arya

Sushila International, a well established textile organisation established ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

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

Mike Hoffman
Gildan Activewear SRL

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search