Spentex already has a facility in Uzbekistan with a workforce of more than 3500 people with a capacity of 2,20,000 spindles and 236 air jet looms with an annual turnover of more than USD 120 MN.
Commenting on the collaboration, Mr. Michael Miller, Managing Director, British Millerain, UK, said, "The technical and marketing collaboration with Spentex will open up new vistas for a wide range of products and market presence."
"It gives us immense pleasure to associate with the largest yarn manufacturer of India. This Synergy will result in combining skills and expertise of both the companies to develop new fabrics and production methods."
Currently, Spentex Industries has eight plants - six in India and two in Uzbekistan. It has a total production capacity of 350,000 spindles in India and 220,000 spindles in Uzbekistan along with 236 airjet weaving looms. It has recently expanded the capacity of its plant at Baramati and Sholapur.
ICICI Securities was the strategic advisor on the transaction.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
