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Robot Systems of Gokaldas exports now an acquisition of Raymonds

YarnsandFibers News Bureau 2015-04-06 15:00:00 – Mumbai

Silver Spark Apparel ,a unit of Raymond –the Indian textile major and a global conglomerate-has signed an agreement with the Gokaldas Exports which is amongst the nation’s largest manufacturers and exporters of apparels.

The apparel major through this pact is liable for acquisition of the entire shareholding in Robot Systems ,a wholly owned subsidiary of Gokaldas Exports. Gokaldas Exports has four decades of partnering the world's most trusted fashion labels, 30 state-of-the-art factories and 32000 employees.

Their customer base is global, covering USA, Europe, Latin America, Middle East and India, servicing almost all major brands

The share purchase agreement was initiated in the presence of Gautam Chakravarti, Whole-time Director and amongst the Chief Executive Officers of Gokaldas Exports.

The said transaction will be subject to the terms and conditions mentioned in the agreement entered into by the parties but the transaction amount remains undisclosed as yet.

This agreement is one of the most important ones between the largest integrated manufacturer of worsted fabric in the world and the rising global leader in apparel industry.

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