Spentex merges with Indo Rama Textiles - sportstextiles: Lea SportsTextiles

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Spentex merges with Indo Rama Textiles

12/01/2007

Indian textile company Spentex Industries has completed its merger with Indo Rama Textiles. This follows the acquisition of a 49.03% stake in Indo Rama Textiles by Spentex in May last year which took its total equity holding in Indo Rama Textile to 84.02%. The merger has been approved by the Delhi High Court.

Spentex has eight manufacturing plants—six in India and two in Uzbekistan. The company has a production capacity of 350,000 spindles in India and 220,000 in Uzbekistan, along with 236 airjet weaving looms. It has recently expanded the capacity of its Baramati and Sholapur plants.


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