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Modi Tele Fibres Ltd.

BSE: 523375 Sector: Industrials
BSE 05:30 | 01 Jan Modi Tele Fibres Ltd
NSE 05:30 | 01 Jan Modi Tele Fibres Ltd

Modi Tele Fibres Ltd. (MODITHREAD) - Company History

Modi Telefibres (MTL), previously known as Modi Threads, was incorporated in Aug.'83 as a private limited company and became a public limited company in Mar.'85. It is a part of the Modi group and is managed by chairman S K Modi. In May '93, MTL came out with a Rs 11.04-cr rights (1:1) issue to finance its modernisation and to meet long-term working capital requirements. The company is a leading manufacturer of sewing, handicraft and industrial threads made of cotton, polyester and nylon. It also plans to manufacture allied products related to the thread industry such as zip fasteners, scissors, elastomer fibres and laces, and knitting yarn and craft kits. MTL has various joint ventures -- Modi Hamro, set up with Holsworth & Gibbs (Dyers), UK, to manufacture cotton embroidery/crochet threads; Modi Ackermann set up with Ackermann Goggingen, Germany, to manufacture polyester threads for export to Europe; and Modi Threads North America, US, set up with MEEW, US, to manufacture embroidery threads. The company exports to more than 50 countries. It plans to set up a state-of-the-art spun-dyed viscose fibre project at Patalganga, Maharashtra.