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Uniworth International Ltd.

BSE: 514282 Sector: Others
BSE 05:30 | 01 Jan Uniworth International Ltd
NSE 05:30 | 01 Jan Uniworth International Ltd

Uniworth International Ltd. (UNIWORTINT) - Company History

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.