Raymond denies news of putting denim business on the block
26 Sep '08
1 min read
With reference to the news item about Raymond, the Gautam Hari Singhania headed group's flagship company, appearing in a leading financial daily in India titled "Raymond puts denim business on the block", Raymond Ltd has clarified to fibre2fashion that there is no such proposal under consideration of the Board of Directors of the Company.
They have also sent a clarification to all the major stock exchanges in India, denying the news.
Raymond UCO Denim is a joint venture between Raymond Ltd, India's largest textile and apparel major and UCO NV of Belgium. It produces and markets specialty ring colour and stretch denim.
Raymond Ltd. is today also the largest integrated manufacturer of worsted fabric in the world with over 60% market share in India.
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