Aastha Spintex to acquire Falcon Yarns to expand manufacturing capacity

Mumbai, July 9 (PTI) Aastha Spintex Ltd, a Gujarat-based integrated cotton yarn manufacturer, has announced the acquisition of Falcon Yarns to significantly expand its manufacturing capacity and strengthen its growth plans, a statement said on Thursday. After the completion of the acquisition, the company's spinning capacity will increase from 7,700 MT to 17,457 MT, while spindle capacity will rise from 25,920 to 61,824, the company said in the statement. The expansion will help the company meet rising customer demand, improve operational efficiency and strengthen its position in the cotton yarn industry. Falcon Yarns operates a modern spinning facility in Gujarat with an installed capacity of 35,904 spindles and an annual production capacity of 9,757 MT. The acquisition will strengthen Aastha Spintex's integrated manufacturing capabilities and create opportunities to improve operational efficiencies through a larger production base, the statement said. Commenting on the acquisition, Divyang Jashwant Patel, Managing Director of Aastha Spintex Limited, said, "The acquisition of Falcon Yarns is a strategic step that aligns with our long-term vision of building a larger and more efficient manufacturing platform." Aastha Spintex recently completed its Rs 170 crore IPO and listed on exchanges on July 6. PTI IAS MR