New Delhi, Feb. 9
Textile company RSWM Ltd, part of the LNJ Bhilwara Group, has earmarked an investment of over Rs 400 crore to acquire companies in the domestic and international markets as part of its expansion drive. The company plans to buy spinning capacities between 50,000 and100,000 spindles in India for up to Rs 200 crore, while a further Rs 250 crore has been set aside to acquire a European specialised yarn maker, RSWM said in a release here.
The company would soon commence its denim manufacturing facility. It is eyeing the high-end domestic denim market and overseas territory for its new product line in denim, the statement said.