ISPAT INDUSTRIES TO HIVE OFF TEXTILE DIVISION OF SUBSIDIARY
Article Abstract:
The Rs300-crore, one lakh spindles capacity textile division of Gonterman Peipers India (GPI), a subsidiary of Ispat Industries, will be hived off into a separate company. This is a part of an integration plan of Ispat Industries to set up a full-fledged fabric making unit near its existing cotton yarn making unit at Nalagarh in Himachal Pradesh at a cost of Rs1,000 crore. This fabric-making unit will come under the yarn making division of GPI, which is currently being spun off. (gsh)
Comment:
Will spin off Rs300-crore, one lakh spindles capacity textile division into separate company
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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HBC ACQUIRES 34.99% STAKE IN KTL, MAKES OPEN OFFER
Article Abstract:
The Hyderabad Bottling Company (HBC) has acquired a 34.99 percent stake in Kakatiya Textiles Ltd (KTL) and announced an open offer to another 20 percent stake at Rs5 per share. The offer is open from October 21, 1998 till November 20, 1998. JSK Holdings Pvt Ltd, an HBC group company, already holds 4.94 percent of KTL's paid-up equity. KTL has accumulated losses of Rs2.45 crore. It posted a loss of Rs2.08 crore on a turnover of Rs12.73 crore in 1997-98. (khr)
Comment:
Hyderabad Bottling acquires 34.99% stake in company & announces an open offer to another 20% stake at Rs5 per share
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CONE MILLS BUYS 8% IN ASHIMA
Article Abstract:
Cone Mills Corporation (CMC) of USA, a denim producer, has acquired a 8 percent stake in Ashima Syntex Limited of Ahmedabad. This is the first time that Cone Mills has decided to acquire a stake in an existing company and become a co-promoter. The strategic alliance is expected to increase the competition for Arvind Mills Limited, world's fifth largest producer of denim. (ag)
Comment:
Sells 8% stake to Cone Mills Corp of USA, a denim producer, to become its co-promoter
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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