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Reliance's acquisition of polyester businesses of SPL, SPTex cleared

23 Oct 22 1 min read

The Competition Commission of India (CCI) recently approved acquisition of polyester products and yarn businesses of Shubhalakshmi Polyesters Limited (SPL) and Shubhlaxmi Polytex Limited (SPTex), both based in Mumbai, by Reliance Polyester Limited, a unit of Reliance Industries Limited that is not engaged in any business activity at present.

SPL produces polyester staple fibre (PSF), partially-oriented yarn (POY), drawn textured yarn/polyester textured yarn (DTY or PTY), fully drawn yarn (FDY) and polyethylene terephthalate chips. SPL also exports polyester products to over 35 countries, including the United States, Canada, Australia, Ethiopia, Peru, Chile, Colombia, Korea, Vietnam and Russia.

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SPTex produces and exports DTY.

However, after the transaction, Reliance Polyester Limited will primarily produce PSF, polyethylene terephthalate chips and polyester yarns, a release from CCI said.

Fibre2Fashion News Desk (DS)

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