Board of Sutlej Textiles and Industries approves acquisition in US
At meeting held on 17 October 2017
The Board of Sutlej Textiles and Industries at its meeting held on 17 October 2017 has approved the following -Investment of up to USD 5 million in an incorporated wholly owned subsidiary in the USA.
Acquisition of the design, sale and distribution business of American Silk Mills, LLC along with its logo, archives, design, customer contracts and some specific assets.
The said acquisition shall be made through step down subsidiary of the WOS in the USA.
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First Published: Oct 17 2017 | 5:32 PM IST