Faze Three buys 76% stake in European firm

Faze Three has acquired 76% stake in European bathmat manfacturing company Pana Textil GmbH (Pana) for euro 5.8 million (approximately Rs 33.34 crore).  Pana has manufacturing facilities in Germany and Hungary.

According to a release issued by Faze, both companies will work closely and complement each other in areas like cost competence, design capabilities, technology, product portfolio and systems & processes.