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Spentex acquires business of TTTL in Uzbekistan
24 Jul '06
2 min read
ICICI securities were the sole strategic advisor on the transaction.
Tashkent-To'yetpa Tekstil LLC (TTTL) was incorporated in May 2005. These two plants acquired by Spentex were a part of the Uzbeg Kabool, a subsidiary of the Korean textiles giant, Kabool Textiles.
The plant and machinery at the two facilities has been imported from Japan, Korea and Switzerland. Subsequently, Uzbeg Kabool got bankrupt and Tashkent-To'yetpa Tekstil LLC (TTTL) was incorporated by the Uzbekistan government to acquire the yarn manufacturing and weaving assets at Tashkent and To'yetpa from Uzbeg Kabool.
Spentex Industries Limited is the textiles arm of CLC Group which has interests in textiles and power. It recently took over Indo Rama Textiles Ltd and Amit Spinning Industries Ltd.
Spentex employs technologically advanced machinery and has online monitoring and control equipment, supplied by reputed machinery suppliers, to produce high quality yarn consistently. Spentex is in the process of launching specialty yarns in the category of slub yarns, core spun yarns and supima spun cotton yarns.
Tashkent-To'yetpa Tekstil LLC (TTTL) was incorporated in May 2005. These two plants acquired by Spentex were a part of the Uzbeg Kabool, a subsidiary of the Korean textiles giant, Kabool Textiles.
The plant and machinery at the two facilities has been imported from Japan, Korea and Switzerland. Subsequently, Uzbeg Kabool got bankrupt and Tashkent-To'yetpa Tekstil LLC (TTTL) was incorporated by the Uzbekistan government to acquire the yarn manufacturing and weaving assets at Tashkent and To'yetpa from Uzbeg Kabool.
Spentex Industries Limited is the textiles arm of CLC Group which has interests in textiles and power. It recently took over Indo Rama Textiles Ltd and Amit Spinning Industries Ltd.
Spentex employs technologically advanced machinery and has online monitoring and control equipment, supplied by reputed machinery suppliers, to produce high quality yarn consistently. Spentex is in the process of launching specialty yarns in the category of slub yarns, core spun yarns and supima spun cotton yarns.
Spentex Industries Ltd
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