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STL Global to sell land and building for Rs 49.08 crore

15 Feb 2012

STL Global has received an approval for sale of land and building of the company situated at sector-6, Faridabad, Haryana to Glen Appliances for an amount of Rs 49.08 crore. The board at its meeting held on February 14, 2012 has approved for the same.

The sale is in accordance with the terms of CDR Package approved by CDR Cell and as per the directions received from Asset Sale Committee (ASC) constituted by the CDR Cell.

STL Global, formerly known as Shivalik Global, is engaged in the manufacturing of various types of processed fabrics and fashion garments. It is placed in the select club of textile export oriented industries in the country. The company undertook the responsibility to manage the composite set up with its existing set up already functional and some important future addition plan to make it the best total vertically integrated plant in the region.

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