Sutlej Textiles and Industries has received an approval to invest up to $5 million in an incorporated Wholly Owned Subsidiary (WOS) in the United States of America (USA). The company shall acquire the design, sales, and distribution business of American Silk Mills, LLC (ASM) along with its logo, archives, designs, customer contracts and some specific assets.
The said acquisition shall be made through step down subsidiary of the WOS in the USA. Pursuant to the authorization of the Board of Directors, the Finance and Corporate Affairs Committee of the Board (the Committee) at its meeting held on October 17, 2017 has approved for the same.
Sutlej Textiles and Industries, an ISO 9001:2008 certified Company is one of the largest integrated textile manufacturing companies and is having strong position in the Indian Textile sector in the manufacturing of value added synthetic, Natural and Blended yarns, all types of spun yarns, processing of fabrics and Home Textile Furnishing.
Company Name | CMP |
---|---|
Trident | 38.19 |
Filatex India | 55.50 |
Sutlej Textiles&Inds | 55.10 |
Nahar Spinning Mills | 264.55 |
Nitin Spinners | 343.00 |
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