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Visaka to expand Nagpur textile unit
Feb '16
Visaka Industries, an India based manufacturing house serving many industries including textiles, will expand the production capacity of its textile unit in Nagpur, Maharashtra by approximately 26 per cent, according to a statement filed by the company with Bombay Stock Exchange (BSE).

The company will add 576 spinning positions to its Nagpur unit for the capacity expansion.

The board of directors approved to the expansion of its textile unit in Chirvah Village, Mouda Taluqa, Nagpur in a meeting held on February 4, 2016, the filing said.

Additionally, the board also approved a policy on determination of materiality of events and information in the meeting.

Visaka reported total income of Rs 72,915.4 lakh from operations in nine months, ending on 31 December, 2015, in its financial results filed with the BSE. (MCJ)

Fibre2Fashion News Desk - India

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