Reliance Industries has acquired Shubhalakshmi Polyesters.
The acquisition will strengthen the textile manufacturing business of Reliance and is part of the company’s strategy to expand its downstream polyester business.
Shubhalakshmi Polyesters produces polyester fiber, yarns and textile-grade chips through direct polymerisation as well as extruder spinning with value addition through texturising. It has a continuous polymerisation capacity of 2,52,000 tons a year. The firm has two production facilities.