INDIA: Investment Committee approves assets takeover of Microsynth Fabrics
MUMBAI: The Investment Committee of Directors has approved the assets takeover Microsynth Fabrics (India) Ltd. by JBF Industries Ltd under Memorandum of Understanding (MoU).
JBF has entered into an MOU with Miscrosynth Fabrics (India) Ltd and the take over was in subject to the approval of Board of Directors of the company and also other necessary approvals as may be necessary.
Miscrosynth Fabrics (India) Ltd is a producer of Polyester POY located at Silvassa and has a strong presence in specialty POY production. The facilities are designed to produce specialised yarns such as micro deniers and colored yarn, with technology from NOY - Vallesina, Italy.
After the take over, JBF will enhance its share in the specialty POY market in India and abroad and at the same time it will create avenue for major captive consumption for Specialty Polyester Chips being produced at the Company.
Added: November 9, 2007 Source: Agencies.
Start script - 1553096496.2623
Start news id check - 1553096496.2623
After news id check - 1553096496.2627
After cookie_code - 1553096497.9669
Before news detail - 1553096497.9669
After news detail - 1553096497.9679
Start cat select - 1553096497.9679
After cat select - 1553096497.9682
before preg replace - 1553096497.9682
After preg replace - 1553096497.9682
Before tag engine - 1553096497.9682
After tag engine - 1553096497.9732
Before mptt engine - 1553096497.9732
After mptt engine - 1553096497.9732
Before related engine - 1553096497.9732
After related engine - 1553096497.9765
Before update hits - 1553096497.9765
After update hits - 1553096497.9767
After update news_hits - 1553096497.9856
After mem_only_views - 1553096497.9857
Total Exec time:- 1.7234997749329