Home / Knowledge / News / Textiles / New Horizon to buy Sri Mahasakthi Textile & Arumuga Cotspin
New Horizon to buy Sri Mahasakthi Textile & Arumuga Cotspin
24
Jul '09
New Horizon Leasing & Finance Ltd has informed that the Board of Directors of the Company at its meeting held on July 22, 2009, inter alia, has approved the following:

1. To acquire 100% share capital of two textile Companies viz. Sri Mahasakthi Textile Mills Ltd, (Kerala) and Arumuga Cotspin Pvt Ltd (Tamil Nadu) for a total consideration of Rs 10 Crores, thus to make these Companies as fully owned subsidiaries of the Company.

2. To start new business in packaging space.

3. To shift Registered Office of the Company from Mumbai to Coimbatore, Tamilnadu subject to necessary approval.

4. Amend Memorandum of Association of the Company to include new line of business.

5. Appointed Mr. T Rajkumar as Director of the Company.

6. Approved postal ballot notice to approve Item Nos. 1 to 4 of the above proposals.

New Horizon Leasing & Finance Ltd

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Paolo Ocleppo
Sandvik Hyperion

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mike Hoffman
Gildan Activewear SRL

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin
Chapurin

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

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search