• search

Sangam India approves merger with subsidiary

Written by: Staff

New Delhi, Sep 11: Sangam India Ltd (SIL) today said it has approved the merger of Sangam Processors Bhilwara Ltd (SPBL) with the parent company.

''The equity shareholders and secured/unsecured creditors of the company at their meeting held on September 10, 2006, approved the scheme of amalgamation of SPBL Ltd with SIL,'' the Bhilwara-based company said in a statement.

The merger of SPBL is part of business synergy to improve the operating margins of the fabric division, it said.

SIL, a manufacturer of polyester viscose dyed yarn and synthetic fabrics, exports its premium product range to Turkey, Belgium, Spain, West Asia and various other countries.

It has 172 looms installed, with a spinning capacity of 36,288 spindles and an annual production capacity of 13,844 tonnes of polyester viscose yarn.


For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more