JBF Industries Ltd signs MoU for acquisition of Microsynth Fabrics (India) Ltd.
JBF Industries Ltd, the Rs 2,000 crores POY and polyester chips manufacturing major has signed a Memorandum of Understanding (MOU) for acquisition of Microsynth Fabrics (India) Ltd. The Rs 100 crore company situated at Silvassa is near to JBF's existing plants and has a capacity of over 1500 tonnes per month running at near 100% capacity. The acquisition will be done through internal accruals.
Tweet-- JBF Industries Ltd, the Rs 2,000 crores POY and polyester chips manufacturing major has signed a Memorandum of Understanding (MOU) for acquisition of Microsynth Fabrics (India) Ltd. The Rs 100 crore company situated at Silvassa is near to JBF’s existing plants and has a capacity of over 1500 tonnes per month running at near 100% capacity.
The acquisition will be done through internal accruals.
With this the Company will add capacities for high value speciality yarn. This acquisition would facilitate further expansion of the Company’s portfolio. This acquisition will synergies productivity and enhance JBF’s existing economies of scale.
Microsynth’s core competency lies in producing ‘Specialty Yarn’. There are very few market players in this field and thus the company has a good potential in synthetic fiber industry. The major markets are India, Europe and Middle East. Around 80 % of production is exported
JBF Industries is the largest producer of textile grade polyester chips in India and amongst the top three players in manufacture of POY. It has undertaken expansion plans successfully in the last two years with all its plants running at near 100 % capacities. It has also set up a JV in United Arab Emirates to produce polyester PET resin packaging and polyester films. JBF Industries Ltd with its existing expansion in is expected to grow to over a billion dollars by 2008 - 2009.
Notes to Editor
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