The Competition Commission of India (CCI) has approved demerger of textiles business of GHCL Ltd into its wholly owned subsidiary GHCL Textiles Limited under Section 31(1) of the Competition Act, 2002. Pursuant to the proposed demerger, GHCL will retain its chemicals and consumer products business and GHCL Textiles will have the demerged textiles business.
GHCL is a public limited company incorporated in India and is stated to be engaged in the business of (i) manufacture and sale of inorganic chemicals including but not limited to soda ash (both dense grade and light grade), sodium bicarbonate, industrial salt and consumer products (chemical business) and (ii) manufacture and sale of textiles including but not limited to yarn manufacturing along with weaving, processing, cutting and sewing of home textiles products (textiles business).
Presently, GHCL Textiles Ltd is a wholly owned subsidiary of GHCL. It is a newly incorporated company and has not initiated any business activity.
GHCL has state-of-the-art home textile facilities at Vapi with a weaving and processing capacity of 45 million metres of fabric up to made ups. This facility houses the best equipment sourced from Germany and Japan namely, Benninger, Kuster and Monforts. It has the flexibility to process both cotton and blended fabrics.
A perennial innovator in bed linen category, some of the recent innovations in the category of ‘sheets’ include the Perfect Fit, Easysheet, MicroTwill, EXL Wrinkle Free Sheets, Versatile Reversible Sheets, Soft Wash Percale and Sustainable Fibre dyed sheets. GHCL has also launched a sustainable, traceable bedding line under the brand name “Rekoop” which has been made using recycled PET fibre, with molecular tagging for complete traceability.
The Competition Commission of India (CCI) has approved demerger of textiles business of GHCL Ltd into its wholly owned subsidiary GHCL Textiles Limited under Section 31(1) of the Competition Act, 2002. Pursuant to the proposed demerger, GHCL will retain its chemicals and consumer products business and GHCL Textiles will have the demerged textiles business.#
GHCL’s home textiles products are predominantly exported worldwide to countries like United Kingdom, United States of America, Australia, Canada, Germany and other European Union countries as well.
Fibre2Fashion News Desk (RKS)
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