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Related Keywords: acquire Mitsubishi Chemcial Corp, biggest Japanese investments in India, deal expected to make technology available, deal rescue MCC PTA potential closure, HPL to expand, Indian subsidiary, New York based serial investor, precursor to polyester, PTA unit, signed agreement, The Chatterjee Group

New York-based serial investor Purnendu Chatterjee of The Chatterjee Group (TCF) signed an agreement to acquire a 90% stake in Mitsubishi Chemical Corp.’s Indian subsidiary, MCC PTA India Corp. Pvt. Ltd, a producer of purified terephthalic acid, or PTA (a precursor to polyester), identified for an estimated $48 million, or Rs.323 crore at the current exchange rate.

The deal rescue MCC PTA potential closure and secures the jobs of some 1,100 workers, said a person close to Chatterjee.

Related Keywords: acquisition of Roger Oates Design, and related interior furnishing products, as stair runners, carpet manufacturing, Craigavon-based company, established exporters, major markets including the Gulf, prestigious brand, range of distinctive fabrics, Ulster Carpets

Ulster Carpets, Craigavon-based company with over 75 years of experience in carpet manufacturing announce the acquisition of Roger Oates Design which is based in Herefordshire and has a showroom in Chelsea. The purchase of this prestigious brand fits perfectly with Ulster’s philosophy of acquiring high quality businesses in the floor covering sector.

The acquisition is being funded from cash reserves and reflects Ulster’s desire to broaden the Group by selectively adding outstanding businesses where the opportunity arises.

Related Keywords: entire textile value chain. Textile Minister, ginning machinery, handy meters, impact on competitiveness, Indian cotton prices, introduce a system, ITF, par with international prices, rise in cotton prices, satellite data on cotton production, SIMA, Smriti Irani, stability to cotton prices, Textile industry of Southern India

The textile industry of Southern India in the last two months due to rise in cotton prices is having an impact on the competitiveness of the entire textile value chain. They have appealed to the Textile Minister Smriti Irani to introduce a system that will bring stability to cotton prices to which the Textile Minister has asked for a proposal, which the textile industry will send it shortly.

Related Keywords: biotechnology company, developer of genetically engineered spider silk, facility ready for operation, fibre technology, increased demand, Kraig Biocraft Laboratories, moving rapidly to commercialize, signed of lease, significant impact on global textiles industry, spider silk technology, take possession new production facility in Indiana

Kraig Biocraft Laboratories, a fully reporting biotechnology company is a leading developer of genetically engineered spider silk based fibre technologies. In response to increased demand, they have signed of a lease and will be taking possession of its new production facility in Indiana.

Kraig Biocraft Laboratories is moving rapidly to commercialize its spider silk technology, which it believes will have a significant impact on the global textiles industry.

Related Keywords: India International Textile Machinery Exhibition, ITEMA SpA, ITME 2016, Sanjiv Lathia, Seema Srivastava, textile exhibition, textile machinery

India ITME Society, after 4 decades of successful service to textile engineering Industry, led a delegation to Bangladesh on 19 July 2016 despite the disturbances and security concerns in Dhaka.

Related Keywords: developed new range of Nebula Acid inks, digital textile printing business, launched at the Febratex trade show in Brazil, luxury silk items, number of fashion items such as scarves and neck ties, SPG Prints, use with polyamide (PA) Lycra swimwear, wools

SPG Prints, a digital textile printing business has specially developed new range of ‘Nebula Acid’ inks, for use with polyamide (PA) Lycra swimwear, luxury silk items, and a number of fashion items such as scarves and neck ties, and wools which will be launched for the first time at the Febratex trade show in Brazil from 9 – 12 August 2016 at Parque Vila Germanica, Blumenau, Brazil.

Related Keywords: (Peds), acquire hundred percent equity interest of Peds Legwear Inc, distribution centre, Gildan Activewear Inc, legwear products, North Carolina manufacturing, Peds marketer of quality foot apparel, private Canadian company, signed definitive agreement, therapeutic hosiery, total cash consideration

Gildan Activewear Inc. has signed a definitive agreement to acquire 100% of the equity interest of Peds Legwear Inc. (Peds), a private Canadian company with a North Carolina manufacturing and distribution centre that opened last year for a total cash consideration of $55 million.

The acquisition is expected to create revenue growth opportunities by leveraging Gildan’s existing customer relationships to broaden the channels of distribution for the Peds and MediPeds brands and by extending these brands into Gildan’s other product categories.

Related Keywords: blended textiles, display the entire spectrum of man-made fibres, fashion forecast, fashion shows, flagship events SRTEPC, host over hundred International buyers, International buyer-seller meetings, Premier and largest sourcing show, procure wide range of synthetic, rayon textiles from India, Source India, the organizer, workshops on trends

Source India 2016, India’s Premier and largest sourcing show for man-made fibres (MMF) and blended textiles for international buyers. It is one of the flagship events of the organizer’s Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) under the aegis of Ministry of Textiles and Ministry of Commerce & Industry Government of India.

Related Keywords: APTMA is the single buyer, APTMA single buye According to the ministry officials, contaminated cotton, cotton growers estimated a loss of Rs twenty two billion, KCA spot rate, lack of qualitybased pricing system, non-practicing of cotton standardization system, Pakistan Ministry of Textile industry, Pakistani cotton is hand picked

Pakistan Ministry of Textile Industry has estimated a loss of Rs 22 billion to cotton growers during 2015-16, due to lack of quality-based pricing system and non-practicing of the cotton standardization system. According to the ministry officials, APTMA is the single buyer and acts as a cartel, which accounts for growers unable to get their due price.

Pakistani raw cotton is being traded at an average discount of 7 cents per pound in the international market.

Related Keywords: accounting for eighteen percent of total exports, likely to get hit, Mauritian currency has strengthened, Mauritius apparel export earnings, medium-sized companies will be hardest-hit, rupee appreciation against the pound, Textiles are Mauritius top export to UK, UK decision to exit EU. Britain largest buyer of Mauritian goods within the EU

Mauritius apparel export earnings likely to get hit by about a 10 percent, in line with the rupee’s appreciation against the pound with the UK’s decision to exit Europe’s common market. Britain remains the largest buyer of Mauritian goods within the EU, accounting for 18 percent of total exports to the bloc. Textiles are Mauritius’ top export to the UK.

About 90 percent of Mauritius’ revenue from export of textile and apparel to the UK comes in pounds while imports are in U.S. dollars.