Faze Three’s Wholly Owned Subsidiary -- Mats and More has acquired an existing factory premises from Basell Polyolefins India situated at Aurangabad vide Deed of Assignment executed on August 17, 2023. The cost of acquisition for the said premises is Rs 5.16 crore and has an area of 10,500 sq. meter.
The said acquisition empowers the company to pursue a growth plan for the category of outdoor and performance mats including patio mats. The said acquisition is part of the planned expansion as updated in the quarterly investor presentations from time to time.
Faze Three manufactures and sells home furnishing products in India. It also offers automotive textiles to OEMs.
