Corporates

Gokuldas Acquires Matrix Clothing’s Knit Apparel Business

Textile Insights February 3, 2024

One of the biggest Indian garment exporters Gokuldas Exports Ltd (GEL), will acquire the knit apparel business of Matrix Clothing Private Ltd (MCPL) for an enterprise value amounting to Rs 489 crore. Of this Rs 489 crore, Rs 247.5 crore is being paid by way of preferential allotment of shares

Corporates

Madhya Pradesh Chief Minister Inaugurates Advanced Textile Unit By Sagar Group

February 1, 2024

Madhya Pradesh Chief Minister, Dr. Mohan Yadav, inaugurated the advanced automated textile Unit 6 of Sagar Manufacturers Pvt. Ltd., in the village Tamot Tehsil Goharganj, Raisen district. The inauguration ceremony was attended by Minister of State Narendra Shivaji Patel, Member of Parliament from Vidisha, Ramakant Bhargava, Member of Legislative Assembly Bhojpur, Vidhan

Corporates

Saurer OpenHouse 2024: A Platform For Knowledge Sharing And Innovation

January 28, 2024

The textile industry is constantly evolving, and industry leaders must stay updated on the latest trends and innovations. To achieve this, Saurer, a leading textile machinery company, hosted for the first time the OpenHouse 2024 event on January 12 and 13. This new format brought together industry experts from academia, consulting and industry, showcasing the […]

Corporates

Himatsingka Seide’s Board Approves Rs 400 Crore Fund Raise And Director Appointment

January 28, 2024

Himatsingka Seide Ltd, a leading player in the textile industry, unveiled strategic decisions following its Board of Directors meeting on January 25, 2024. Fund raising and capital structure enhancement: The board has greenlighted fund raising up to Rs 400 crore, utilizing equity shares or eligible securities via a Qualified Institutions Placement (QIP). Pending approvals,

Corporates

Rossari Biotech Announces Strong Q3 FY24 Financial Results

January 28, 2024

Rossari Biotech Ltd, a leading specialty-chemicals manufacturer, has revealed robust financial performance for the quarter ended December 31, 2023. Revenue from operations grew by 19% to Rs 463.8 crore compared to Rs 389.3 crore in Q3 FY23. EBITDA improved by 18% to Rs 63.7 crore from Rs 54.2 crore, with an EBITDA margin at 13.7%. […]

Corporates

Mikusu India Acquires 1.74% Equity In Daikaffil Chemicals India

January 28, 2024

Daikaffil Chemicals India Ltd, based in Tarapur, Maharashtra, has witnessed a 1.74% change in its equity and voting share capital with Mikusu India Pvt Ltd acquiring 104,499 equity shares on January 23, 2024. This acquisition is in line with the open offer for equity shares, as previously disclosed on January 17, 2024. The transaction, governed […]

Corporates

Rieter Acquires Petit Spare Parts SAS For Enhanced After-Sales Support

January 28, 2024

Rieter Group, the world’s leading supplier of systems for manufacturing yarn from staple fibres in spinning mills headquartered in Winterthur, Switzerland, has acquired the French company, Petit Spare Parts SAS, effective January 5, 2024. The acquisition is set to strengthen Rieter Group’s dynamic after-sales business. Petit Spare Parts SAS is a renowned supplier in the

Corporates

Shengtai Textile’s 300,000-Spindle Yarn Plant Construction On Track

January 28, 2024

Shengtai Textile Co., Ltd., located in Zhoukou, Henan province, is making rapid progress in the construction of its 300,000-spindle spun yarn project. The company is set to implement a fully automated process, transforming the facility into a “dark factory.” With a significant investment of 5.2 billion yuan, the Shengtai Textile Industrial Park has evolved into

Corporates

Giltex Joins ITMF To Lead Textile Integration In South Caucasus

January 28, 2024

Giltex LLC, the sole vertically integrated company in Azerbaijan and the entire South Caucasus region, has joined International Textile Manufacturers Federation (ITMF). Christian Schindler, Director General of ITMF, expressed enthusiasm about Giltex joining ITMF, highlighting the global nature of the textile industry. He emphasized the significance of international

Corporates

Song Hong Garment Initiates Mega Factory With Investment Of Over VND700 Billion

January 21, 2024

Song Hong Garment Company marked its 35th anniversary with the initiation of the Song Hong-Xuan Truong 2 factory in Nam Dinh Province at the end of November 2023. Representing a significant addition to Vietnam’s textile and apparel sector, the sprawling 9.6-hectare facility encompasses three workshops, a warehouse, a cutting workshop, an office building and green