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JBF to expand Saily (Microsynth) plant at Silvassa
06
Apr '09
The Board of Directors of JBF Industries Ltd has approved expansion to be carried out in the newly acquired unit (formerly known as Microsynth) at Saily, Silvassa. The new facility will manufacture 72,000 TPA of Fully Drawn Yarn/Other Polyester Yarns.

Production in the new facility is expected to begin in March 2010, and will contribute around Rs 500 crores to turnover on 90 % utilization.

The Board of Directors has approved the deal of buy back and cancellation of FCCB's of USD 14.30 million, out of the outstanding FCCB's of USD 21.30 millions at a discount of 32.3% of face value. This will ensure that the equity does not get diluted, while enabling the company to take advantage of repayment at a reduced value.

JBF Industries Ltd

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