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Article: INDIAN YARN MAKER SPENTEX ACQUIRES CZECH COMPANY FOR US$25 MLN.
- Article from:
- AsiaPulse News
- Article date:
- July 2, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW DELHI, July 2 Asia Pulse - The country's largest yarn manufacturer Spentex Industries Ltd (BSE:521082) has acquired Schoeller Litvinov k.s. in the Czech Republic for US$25 million.
The acquisition of Schoeller would give the company a footprint in Czech Republic, Germany, France, Belgium, the Netherlands and Luxemburg. It will also gain access to a large customer base in over 30 countries and add an annual volume of about 19,000 tons.
The transaction will enhance the topline of Spentex by about 55 million euro (US$74 million) and add another 6 million euro per year in cash flows. Schoeller's revenues during the year ending 2006 were 54.5 million ...