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Mallcom (India) Limited to acquire 100% stake in Best Safety Pvt Ltd
Posted On:
2021-02-26 05:19:18
(Time Zone: Arizona, USA)
The Board of Directors of Mallcom (India) Limited has approved acquisition of 100% stake in M/s. Best Safety Pvt. Ltd. (BSPL) Consequent to the acquisition, M/s. Best Safety Pvt. Ltd. becomes a wholly owned subsidiary of the Company.
BSPL is engaged in manufacturing and export of safety shoes from its SEZ unit located within Falta Special Economic Zone (FSEZ). Since beginning, the entire production of BSPL is being sold through Mallcom (India) Limited (MIL) under third party export provisions. MIL is also operating from FSEZ having its existing unit as well as 100% subsidiary Mallcom VSFT Gloves Pvt. Ltd. and is engaged in manufacturing and export of PPE range of products. Since all the units are engaged in similar line of business and MIL being the sole exporting entity, it is quite natural and logical to integrate the SEZ operat ....

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