Spentex Industries, the largest yarn manufacturer in India, has acquired Schoeller Litvinov KS in the Czech Republic for a consideration of $25 million. The acquisition gives Spentex access to a large customer base in over 30 countries.
The acquisition will add about 55 million euros to its revenues and another six million euros in cash flows annually. This is the fourth acquisition by Spentex in recent times, after having earlier acquired Cimmco Spinners from the SK Birla group, Indo Rama Textiles and Taskent-To'yetpa Tekstil of Uzbekistan.
Source: India Business Insight / Yarns and Fibers