Garware Technical Fibres Sets Up UK Subsidiary
Garware Technical Fibres has incorporated a wholly owned subsidiary, Garware Technical Fibres UK (GTFL UK), to expand its technical textile business in the UK.
As per an exchange filing, GTFL UK was established with an initial capital of 10,000, comprising 10,000 shares of 1 each, acquired through cash consideration. The subsidiary aligns with the parent company’s core operations and does not require separate regulatory approvals. It is not classified as a related party transaction.
The promoters, promoter group, and group companies have no interest in GTFL UK, except Chairman and Managing Director V. R. Garware, who is also a director of the subsidiary. The certificate of incorporation was received on 14 March 2025, and the announcement was made on 15 March 2025.
Garware Technical Fibres is a global leader in technical textiles, catering to sectors such as sports, aquaculture, shipping, and geosynthetics, with a presence in over 75 countries.
