MoneyWorks4Me

Maxwell Industries sells spinning business unit to M C Spinners

14 Dec 2011 Evaluate

Maxwell Industries has successfully completed the sale of spinning business of the company and received full consideration of Rs 39 crore from M C Spinners. The company had entered into business purchase agreement with M C Spinners on June 03, 2011 for sale of company’s spinning business unit situated at Cobichettipalyam, Tamil Nadu.

The company is a leading manufacturer of high quality 100% cotton yarn manufacturer in India for hosiery/weaving industries. It operates in the highly competitive domestic and international market as suppliers of 100% Combed Auto leveled and Auto Coned Contamination controlled Siro cleared hosiery/woven cotton yarn for the high tech knitting/weaving industry.

Peers
Company Name CMP
Vardhman Textiles 540.00
Welspun Living 239.00
Arvind 530.10
Raymond Lifestyle 638.30
K.P.R. Mill 1103.00
View more..