LNJ Bhilwara group company Rajasthan Spinning and Weaving Mills Limited (RSWM) is planning to make two acquisitions in the next three months: one in India and the other abroad. RSWM is close to acquiring a specialized yarn maker in Europe for €6 mn and a domestic spinning having capacity of 100,000 spindles for Rs. 200 crores. Senior company officials are believed to be in Europe as part of negotiations to seal the European deal.
RSWM is a leading integrated player in the textiles sector. It is also contemplating entering the retail sector and has plans to double yarn capacity to 400,000 spindles. RSWM is also eyeing the high-end denim market in India and overseas for its new product line in denim. The company will invest Rs. 900 crores over the next three years to establish a power plant, enhance yarn capacities, set up a state-of-the-art 27 mn metres per annum denim operations and other initiatives.
The company fabric production is exported to 60 countries, including the Middle East, Europe and the US. It has registered a turnover of Rs. 770 crores in the last fiscal.
Read the article in DNA Money.
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