High cost forces Soma Textiles to close spinning unit

“In the present scenario of textile industry, it is not viable to continue spinning and winding unit/department at the company's textile unit at Ahmedabad because of its high operative cost and other adverse factors,” Soma Textiles said in a recent filing to the BSE.

“The management has therefore closed down the spinning unit with immediate effect,” the filing said.

One of the first units to manufacture indigo denim, Soma Textiles' main products include cotton and blended yarn as well as cotton and man-made fabrics. (RKS)

ALCHEMPro News Desk – India