New Delhi, Dec 24 (UNI) S P Apparels (SPAL), a Coimbatore-based garment exporter and retailer, has taken over 12,672-spindle capacity Sri Balaji Bakiam spinning mill at Valapadi near Salem.
Spread over 9 acres of land,the recently-commissioned spinning unit will become a 100 per cent subsidiary of SPAL, a company statement said today. The acquisition will result in the addition of Rs 11 crore to SPAL's top line, an increase of 4 per cent.
SPAL managing director P Sundararajan said, ''With its entry into spinning, S P Apparels has become a fully integrated textile company with operations spanning from spinning to retail and fibre to fashion.'' He said 150 employees of the spinning unit, which started full production from April 2007, will be retained.