Himatsingka acquisition of 80% stake in Divatex over
31 Jul '07
1 min read
Trial production at the Hassan Bed-Linen facility has commenced. On 1st July, 2007, the Company through its wholly owned subsidiary, Himatsingka America Inc New York completed the acquisition of a 80% stake in Divatex Home Fashions Inc New York.
There were no pending investor complaints at the beginning of the quarter. During the quarter ended June 30th, 2007, the Company received 33 Investor Complaints, which have been attended and no complaints remain unresolved as on 30 th June 2007.
The above consolidated financial results include figures in respect of its subsidiaries, Himatsingka Wovens Pvt Ltd, Himatsingka America Inc, Twill & Oxford LLC, Giuseppe Bellora SpA, BP Venture srl, Giuseppe Bellora America Inc, Interbrand srl and BP Venture Portugal LDA .
GBT SrL (a subsidiary of Giuseppe Bellora SpA) has not been considered for consolidation, since it is under liquidation.
Himatsingka Filati, our spinning division, was established in technical collaboration with Filati Buratti of Italy.
Equipped with the latest machinery, it produces a wide range of regular and fancy 100 % silk and silk blended yarns.
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