Trident, one of the largest integrated home textile manufacturer in the world today announced that Lotus Integrated Texpark Ltd (LITL) located in Barnala, Punjab has become an associate firm of the group after it picked up stake in the company for Rs 25 crore in an all cash deal.
Trident with a modest beginning of 17,280 spindles of yarns, today exports to over 75 countries emerging as one of the largest integrated home textile manufacturer in the world. Trident is also one of the largest yarn spinners in India, one of the world’s largest terry towel manufacturers and the world’s largest wheat straw based paper manufacturer.
Trident, offers a variety of brands of terry towels and bed linen in the domestic market, catering to everyday as well as indulgent use. These home textiles products are sold under various established brands like Trident Home Essentials, Trident Indulgence, Trident Organica, Trident Cuddlies, Trident Bath Buddy and Trident Play.
The acquisition of LITL would help in forward/backward integration of textile business of the company, it said.
Lotus Integrated Texpark Limited is a Public Company incorporated on 29 November 2006 is engaged in the field of textiles. It had a turnover of Rs 142.03 crore in FY 2014-15
Trident Ltd in a BSE filing said that the company has today received intimation of allotment from LITL with respect to allotment of 2,50,00,000 equity shares pursuant to participation in rights issue of LITL. The company acquired the shares at Rs 10 each.
Marks & Spencer and Pilio have launched the Affordable Clean Environment (ACE) cotton programme to support cotton farmers in India.
Circulose has joined the ecosystem of Spinnova to support the commercial scale-up of Spinnova’s fibre technology by supplying recycled raw…
AGY, JPS Composite Materials to manufacture low coefficient of thermal expansion (CTE) glass fibre fabric developed for advanced integrated circuit…
Ocean Recherche is promoting marine biomass as its main raw material for textile applications, supplying a range of materials developed…
Asahi Kasei has resumed production of Bemberg at its Nobeoka facility in Japan, almost four years after a partial shutdown.
Nikwax has partnered with technical marine clothing brand Gill Marine to introduce PFAS-free durable water-repellent technology to ocean performance gear.