• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

SPAL acquires Sri Balaji Bakiam Spinning Mill, Salem

24 Dec '07
2 min read

S. P. Apparels Limited (SPAL), a Coimbatore-based fully integrated garment exporter and retailer, has completed the acquisition (with 100% management control) of the Sri Balaji Bakiam Spinning Mill of 12,672 spindles capacity spanning over 9 acres of land at Valapadi near Salem.

The acquisition of the newly acquired spinning unit, which will become a 100% subsidiary of SPAL, will result in the addition of Rs 110 million to the Company's top line, an increase of 4 per cent.

Mr. P. Sundararajan, Managing Director, S. P. Apparels Ltd., said, “With its entry into spinning, SPAL has become a fully integrated textile company with operations spanning from spinning to retail and fibre to fashion.

We had originally planned to put up spinning mill as part of our expansion programme and we capitalized on the opportunity for taking over a newly commissioned spinning mill of Sri Balaji Bakiam spinning mills at Salem.”

“Spinning is the last process in manufacturing to be integrated in S. P. Apparels and it is also creation of new manufacturing capacity. In terms of balancing the output from spinning, we can say that it will meet out 10 per cent of S.P. Apparels current yarn requirements.

The cost of acquisition, which is estimated to be around Rs 260 million, will be partly funded through internal accruals and taking over of the bank liabilities,” added Mr. Sundararajan.

The newly startup unit, which started full production from April 2007, is equipped with all imported Reiter and Schlafhorst range of machineries from Swiss and Germany. Presently, it has around 150 employees, who will be retained.

S. P. Apparels Limited

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search