SINGHANIA TO SELL SPINNING CO TO SHAMKENS
Article Abstract:
Mr GH Singhania of JK Synthetics is to sell Dwarikadhish Spinners Ltd (DSL) to the Shamken Group. DSL is a 100 percent export oriented unit set up for producing cotton yarn. The Shamken group will benefit from this acquisition as it already has a cotton yarn unit, Shamken Spinners, an exports over 5,000 tonnes of cotton yarn per annum. A total investment of Rs19 crore has been made in DSL till now, with the promoters putting in Rs8 crore, the Punjab State Industrial Development Corporation (PSIDC) bringing in Rs4 crore while the rest is a loan component. PSIDC, which holds a 26 percent stake in DSL, will continue to retain its holding. DSL is expected to begin commercial production by September 1999. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TEA ASSOCIATION TO GO IN FOR GENERIC PROMOTION
Article Abstract:
The Indian Tea Association (ITA) proposes to go in for generic promotion of tea to arrest the fall in local consumption. The consumption of tea in India has lessened due to a rise in the average price of tea. ITA expects the local demand to grow by 15 million kg at 640 million kg in 1998 (625 million kg in 1997). Tea production is also expected to grow to 830 million kg (811 million kg). Exports are expected to fall to 200 million kg (203 million kg). (ag)
Comment:
India: Indian Tea Association proposes to go in for generic promotion of tea to arrest fall in local consumption
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SINGHANIA GROUP TO MERGE TWO UNITS
Article Abstract:
The Singhania group of Calcutta has decided to merge Raj Stockists Pvt Ltd (RSPL) and Good Hope Tea & Industries Ltd (GHTIL) with Diana Tea Company Ltd (DTCL). GHTIL has a production capacity of 8.5 million kgs while DTCL has a capacity of 21.5 million kgs. The group is also negotiating to acquire another tea garden for Rs10 crore. DTCL is expected to show a net profit of Rs3.5 crore in 1998-99. (khr)
Comment:
Will be merged w/ Raj Stockists & Good Hope Tea & Industries
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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