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MUMBAI, 23rd February 2007: Bombay
Rayon Fashions Limited, leading manufacturer of fashion fabrics and
garments, has acquired UK- based DPJ Clothing Limited at a consideration
of £ 1.54 million ($2.90m). With this acquisition, DPJ Clothing Ltd. has
become a foreign subsidiary of Bombay Rayon Fashions Limited.
This
acquisition through the purchase of 420 Ordinary Shares (70% of total
capital) in DPJ Clothing was approved by the Board of Directors of
Bombay Rayon Fashions.
“With
this acquisition, Bombay Rayon will be able to expand its customer
base in the European region for its designer garments and also get the
headway for outsourcing and distributing the other related products in
that region.”, said Mr. Prashant Agarwal, MD, Bombay Rayon Fashions
Limited
About
Bombay Rayon Limited
Bombay
Rayon Group established by Mr. Janardhan Agrawal in 1986 with a modest
beginning in manufacturing of fashion fabrics at present is considered
amongst India’s leading manufacturers and exporters of fashion fabrics
and garments with a State-of-the-art manufacturing facilities at New
Mumbai, Silvassa, Sonale and Bangalore fully backed by the facilities of
product development, design studio and efficient sampling infrastructure
to provide the quality service to its customers in India and abroad.
About
DPJ Clothing Limited
DPJ Clothing Ltd. is engaged in the business of
wholesale marketing and distribution of clothing products and is
incorporated under English Companies Act 1985 with place of business
and Registered office at Birmingham. DPJ Clothing is currently working
with various retail fabric chains facilitating the outsourcing of
fabrics and garment either by direct import or by import and delivery
basis with a total turnover of £ 6.78 million and PAT of £ 0.3 million
for the year 2005 -06,which is projected to increase by 50% in current
year
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