Vardhman Acrylics Ltd

Summary

Vardhman Acrylics Ltd is an India-based company. The company is engaged in the business of manufacturing of acrylic fiber and tow. They have set up 18,000 TPA acrylic staple fiber and tow production plant at Jhagadia, Bharuch in the state of Gujarat. Their products are marketed under the brand name VARLAN. The companys products include circular knit, flat knit, woven, tufting, and pile fabric. The companys products are used in hosiery, weaving, home furnishing, industrial, and other applications. The company operates as a subsidiary of Vardhman Textiles Ltd.Vardhman Spinning and General Mills Ltd (VSGML), a company belonging to the Vardhman Group and UP State Industrial Development Corporation Ltd (UPSIDC) mutually agreed to form a public limited company for manufacturing Acrylic Fibre. Accordingly, Vardhman Acrylics Ltd was incorporated on December 24, 1990 as a public limited company. UPSIDC, at the time of the agreement, was holding a letter of intent from the Government of India for establishing a plant to manufacture Acrylic Fibre in the state of Uttar Pradesh. However, the actual implementation and setting up of the project was deferred since a revised feasibility study did not find the project viable at that time. Subsequently, UPSIDC terminated the collaboration agreement with VSGML and accordingly the shares held by UPSIDC were transferred to VSGML.In September 1995, Mahavir Spinning Mills Ltd, another company belonging to the Vardhman Group incorporated a company... Read More