Grasim Industries has concluded the transaction and has vested the Right to Manage and Operate the VFY Business of CTIL with effect from February 1, 2018. Consequently, the company’s production capacity of VFY stands increased from its existing capacity of 21,300 TPA to 46,300 TPA.
Last year in December, the board of directors of the company had approved the acquisition of the Right to Manage and Operate the Viscose Filament Yarn (VFY) business of Century Textiles and Industries (CTIL).
Grasim Industries is the flagship company of the Aditya Birla Group. The company’s businesses comprise viscose staple fibre (VSF), cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.
