Uniworth International Ltd

Uniworth International Ltd

Uniworth International (UIL) was incorporated on 19 Jun.'92 as a public limited company. It has been promoted by Woolworth (India) N R Lohia and A P Lohia. UIL came out with a public issue of 32 lac 10% fully convertible cumulative redeemable preference shares of Rs 50 each at par aggregating Rs 16 cr in Jul.'93 to part-finance a project for export marketing at a total cost of Rs 81 cr. The company manufactures worsted yarn spun silk yarn noil silk yarn etc. UIL exports to the UK Japan etc and has a technical collaboration with Cascami Seta Italy for the silk project. It has also signed an MoU with John Gladstone & Company UK for marketing their products worldwide. The company is investing in a company called Fabworth (India) which is setting up a project to manufacture worsted woollen and silk fabric. The project envisages the setting up of a 100% EOU for weaving. The company has started operations to manufacture worsted yarn in Thailand through a joint venture. UIL has diversified into shares and securities drugs and pharmaceuticals agro products etc. The company has also promoted a joint venture Uni-Weartex near Bombay to manufacture premium quality ready-to-wear men's suits. A 100% wholly-owned subsidiary Uniworth International (UK) has been set up in the UK.During 1995-96 the company is concluded a marketing arrangement with Uniweartex Limited near Mumbai manufacture of international standard ready-to-wear mens outer clothing under label EGO.