Ramatex Malaysia refutes Namusa's acquisition claims

16 Oct '10

1 min read

Ramatex Malaysia, one and only shareholder of the Ramatex Textiles Namibia, recently through its legal representative rejected the claims of Namusa, a local textile firm that it plans to acquire assets of Ramatex Textiles Namibia which has gone into liquidation and restart the facility,.

Metcalfe Attorneys on behalf of Ramatex Malaysia stated that, Namusa has not inked a deal with Ramatex Malaysia for acquiring the assets of Ramatex Textiles, Namibia to restart the facility.

Moreover, Metcalfe Attorneys have even negated Namusa's claims that, it is carrying out talks with the City of Windhoek and the Ministry of Trade and Industry, to strike an out of court settlement.

Ramatex Malaysia made above statements in response to the recent press reports citing Thomy Nakalega, Director of Namusa's claims that they are in the process of finalizing the acquisition deal with Government and the City by last weekend.

The Namusa Director even claimed that, restarting Ramatex could generate employment opportunities for over 16,000 persons, and in the first stage itself would generate 4,000 jobs and would add another 2,000 jobs every quarter.

Fibre2fashion News Desk - India

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