Saturday April 24, 2021
ECONOMYNEXT – Hayleys Materials, a unit Sri Lanka’s Hayleys group mentioned it had purchased 98.84 % of South Asia Textiles Restricted, weft-knitted textile producer, for 3.953 billion rupees.
Hayleys mentioned it purchased a 97.68 % stake from publicly traded Ambeon Holdings Restricted and one other 1.16 % from a minority shareholder.
Hayleys Materials mentioned the acquisition was a part of a strategic plan to export larger worth added material.
South Asia Textiles has a plant in Pugoda, Sri Lanka and might produce 800,000 kilograms of textiles per 30 days.
It makes knitted, dyed, completed, printed, brushed, suede, pre-shrunk and specialised efficiency primarily based informal, lounge, sports activities, medical and intimate material.
The agency has mentioned its merchandise are used b Victoria Secret PINK, Subsequent, NIKE, Marks & Spencer, Tesco, PVH/Calvin Klein, Columbia Sportswear, Lidl, ASICS, George, Tommy Hilfiger, LEVI’s, Helly Hansen, Hanes, Hugo Boss, Decathlon, and Adidas manufacturers. (Colombo/Apr24/2021)