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GRIT plans to purchase 75% stake in Obion Textiles
05
Oct '10
GRIT International Inc., 'GRIT' announces the planned acquisition of a textile manufacturing company called Obion Textiles. Obion is in the business of manufacturing textiles for the clothing industry and is currently producing 500,000 pounds of finished textiles each month.

GRIT plans to purchase a 75% stake in the company with Obion set to operate under a yet to be established subsidiary. Obion Textiles is the second acquisition to be announced under GRIT's new strategy plan expanding its interests through organic growth and acquisitions. GRIT plans aggressively increase its industrial holdings over the next year to include; mining, resources, utilities and manufacturing.

GRIT International is a Canadian based company registered in the State of Nevada, US; -Diversified Industrial Services Company, offering Support Services, Utilities, Oil & Gas and Mineral holdings. The businesses that make up GRIT INTL - Integrate amongst each other providing a present revenue from the energy industry and also seeks out Environmentally Sustainable solutions in nuclear energy, renewable resources in bio-waste and other alternative fuels available at present time.

GRIT International Inc

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