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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.

VIP Clothing Share Price

22.41 0.65 (2.99%)
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Peers
Company Name CMP
Welspun Living 132.20
Vardhman Textiles 598.00
Arvind 447.70
K.P.R. Mill 976.85
Page Industries 37265.05
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