Textured Jersey Lanka has decided to proceed with the acquisition of Quenby Lanka Prints for US$ 3.5 million.
The entire consideration is due to be paid out in cash to the shareholders of Quenby Lanka in order to acquire the shares of the company.
Quenby Lanka, a 50%-50% joint venture between Brandix Lanka Limited and Trust Family industries, , is a leading Fabric Printer based in Sri Lanka. Quenby Lanka is registered with the Board of investments of Sri Lanka and its facility is located on 4.4 acres of land in the Seethawaka International Industrial Park, in close proximity to TJL.
"In addition to the printing capability enhancement for TIL, the acquisition also offers potential for further capacity optimization and margin improvement through synergies. As a strategically located vendor, over the years Quenby Lanka has developed a strong working relationship with TJL," an official from Textured Jersey said.
www.dailynews.lk
The entire consideration is due to be paid out in cash to the shareholders of Quenby Lanka in order to acquire the shares of the company.
Quenby Lanka, a 50%-50% joint venture between Brandix Lanka Limited and Trust Family industries, , is a leading Fabric Printer based in Sri Lanka. Quenby Lanka is registered with the Board of investments of Sri Lanka and its facility is located on 4.4 acres of land in the Seethawaka International Industrial Park, in close proximity to TJL.
"In addition to the printing capability enhancement for TIL, the acquisition also offers potential for further capacity optimization and margin improvement through synergies. As a strategically located vendor, over the years Quenby Lanka has developed a strong working relationship with TJL," an official from Textured Jersey said.
www.dailynews.lk
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