Welspun Group carving out WSL its yarn-spinning business

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Mumbai
Welspun Group carving out WSL its yarn-spinning business
Summary: 
Welspun Syntex Limited , the yarn spinning business established in 1983, flagship company under the Welspun umbrella, the $3-billion textile-to-steel pipes conglomerate will be now managed by cofounder Rajesh Mandawewala’s elder son Abhishek. The decision by Welspun Group to carve out the yarn spinning business is a step to ensure separation of ownership and management, while simultaneously planning a smooth succession of the business to the next generation.

Welspun Syntex Limited , the yarn spinning business established in 1983, flagship company under the Welspun umbrella, the $3-billion textile-to-steel pipes conglomerate will be now managed by cofounder Rajesh Mandawewala’s elder son Abhishek. The decision by Welspun Group to carve out the yarn spinning business is a step to ensure separation of ownership and management, while simultaneously planning a smooth succession of the business to the next generation.

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