Indus Fila acquires Fabric Division of Sai Lakshmi Industries

Bangalore, May 8 (UNI) City-based Indus Fila Limited, engaged in fabric weaving and apparel manufacturing, has acquired the fabric division of Sai Lakshmi Industries Private Limited of Mysore for a cash consideration of Rs 90 crore.

The company acquired total assets, including 63.29 acres of land, 4,70,000 sqft building, state-of-the-art plant and machinery along with required utilities, current assets and liabilities, a company release here said today.

Indus Fila Vice-Chairman and Managing Director Nitin Mandhana said ''We are now planning to double the capacity of this acquired unit to 1,00,000 metres per day, as utilisation efficiency of the utilities installed will be optimised, which in turn will help in bringing down the costs.'' The acquired unit is a fully integrated weaving, processing and finishing unit with a capacity of 50,000 metres per day and a co-generation power plant of 6.5 MW. The acquisition would add about Rs 120 crore to Indus Fila's turnover, besides improving the bottom line on account of backward integration for its shirting, dyeing and finishing, the release said.

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