Ginni Filaments has agreed to sell its spinning, knitting and processing operations to RSWM Ltd., one of the largest manufacturers and exporters of value-added synthetic, mélange, blended spun yarns, denim fabric, knitted fabric and green polyester fibers in India. The acquisition is expected to be completed within 90 days. 

Ginni Filaments is engaged in the manufacturing of traditional textiles comprising of yarn, fabric and garments and technical textiles comprising of nonwovens and consumer. This divestment will allow it to focus more narrowly on technical textiles where it has a leadership position.
 
“The company has been producing technical textile products for hygiene and medical applications and has a strong customer base,” says Saket Jaipuria, executive director, Ginni. “It has also started manufacturing cosmetic products and is seeing substantial growth on this front. It wants to strategically focus on this new emerging segment and is exploring several exciting opportunities. The slump sale process is expected to be completed in three months’ time.”
 
With multiple site in India, Ginni manufactures wipes, liquid cosmetics, cotton yarn, knits, nonwovens and garments.
 
RSWM Ltd. produces and supplies high-quality yarns to some of the most renowned brands in India and over 70+ countries abroad. For the last 57 years, the company has been producing high-quality cotton, mélange, synthetic, novelty yarns, and denim fabric used to drape populations around the world. RSWM is one of the largest manufacturers and exporters of synthetic and blended spun yarns from India.

“The acquisition broadens RSWM’s reach, making it a significant player in the spinning and knit fabric sector by strengthening its production capacity,” says B.M. Sharma, joint managing director, RSWM. “This may also lead to enhancement in yarn production capacity of RSWM. RSWM Limited has planned to make substantial investment in the modernization of the acquired assets, introducing cutting-edge technologies such as the latest generation compact ring frames and advanced carding and comber machines including power infrastructure. This move is aimed at enhanced recoveries, productivities, and product diversity to cater to premium clients.”