Home / Knowledge / News / Textiles / American & Efird acquires additional 14% stake in VYTL
American & Efird acquires additional 14% stake in VYTL
08
Oct '08
Vardhman Textiles Ltd (VTXL) has transferred its threads business to one of its subsidiary companies, Vardhman Yarns and Threads Ltd (VYTL), through a Scheme of Arrangement, Re-organisation and Demerger as sanctioned by the Hon'ble Punjab and Haryana High Court, with effect from April 01, 2008.

The holding of VTXL in VYTL as on the said date was more than 98 percent. The threads business of the subsidiary company, viz. VYTL, comprises of four manufacturing units located at Hoshiarpur and Ludhiana (Punjab), Penrndurai (Tamil Nadu) and Baddi (Himachal Pradesh).

According to Mr. Sachit Jain, Executive Director, VTML, the Company entered into a joint ventuer in VYTL with M/s. American & Efird Inc (A&E), one of the world's largest global manufacturers and distribution of industrial sewing threads, embroidery threads and technical textiles, with A&E's initial holding of 35 percent.

Recently, A&E has acquired the additional 14 percent equity shares of the joint venture company, VYTL, from Vardhman Textiles Limited and thus holds 49 percent equity shares.

The joint venture Company, however, continues to be a subsidiary of Vardhman Textiles Limited, whose shareholding is now 51 percent.

Vardhman Textiles Ltd


Must ReadView All

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Apparel/Garments | On 21st Sep 2017

BFC announces partnership with Chinese firm JD.com

The British Fashion Council (BFC) has forged a new partnership...

Textiles | On 21st Sep 2017

Indonesia’s textile exports may reach $15 billion by 2019

Indonesia’s textile-related exports are projected to reach $15...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Mike Hoffman
Gildan Activewear SRL

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search