Himachal Fibres has approved the acquisition of 51% stake in Shiva Cottex by subscribing to its equity share capital. This strategic move solidifies its commitment to enter into manufacturing of innovative and sustainable products from waste plastic material.
Shiva Cottex will become subsidiary of the company and is currently in the process of establishing a state-of-the-art production line for rPET bottle to bottle chips, with an annual capacity of 7,000 tonnes. Additionally, Shiva Cottex is setting up a cutting-edge manufacturing facility for acoustic panels made from rPET, with an annual production capacity of 7,50,000 square meters. Both facilities are expected to commence commercial production in the Financial Year 2024- 2025.
Himachal Fibres engages in the manufacture and sale of cotton and blended yarns in India and internationally.
Company Name | CMP |
---|---|
PDS | 433.55 |
Vardhman Textiles | 450.20 |
Arvind | 368.95 |
Welspun Living | 143.85 |
Alok Inds | 26.79 |
View more.. |