Reliance's acquisition of polyester businesses of SPL, SPTex cleared

SPL produces polyester staple fibre (PSF), partially-oriented yarn (POY), drawn textured yarn/polyester textured yarn (DTY or PTY), fully drawn yarn (FDY) and polyethylene terephthalate chips. SPL also exports polyester products to over 35 countries, including the United States, Canada, Australia, Ethiopia, Peru, Chile, Colombia, Korea, Vietnam and Russia.

SPTex produces and exports DTY.

However, after the transaction, Reliance Polyester Limited will primarily produce PSF, polyethylene terephthalate chips and polyester yarns, a release from CCI said.

ALCHEMPro News Desk (DS)