Punjab Fibres manufactures cotton and cotton blended yarn. It manufactures yarn in the count range of 20-40. The company has two units -- one in Surajpur, UP and the other in Rail Majra, Punjab. Commercial production of the unit at Surajpur commenced partly in Apr.'90.
In 1990-91, an expansion scheme was undertaken by the company at its Surajpur unit to add another 18,000 spindles. The entire additional capacity became fully operational in Mar.'92.
In 1989, Tube Tex was amalgamated with the company. The company set up a textile complex at Gurgaon, Haryana in 1990-91. The company undertook production development activities to produce novel yarns like core spun lycra, linen blended yarns, etc.
Since the networth of the company has been entirely eroded during 1999-2000, a reference was made by BIFR and IFCI was appointed as an operating agency.