Mundotextil, Trident Form Joint Venture
GDA Staff -- Gifts & Dec, January 11, 2010
Mundotextil Industrias Texteis and Abhishek Industries Limited/Trident Group, India are forming of joint venture under which they will jointly sell their products to the European market.
Financial details of the transaction are still being worked out, according to Trident.
Mundotextil is the largest manufacturer of terry towels and other bath textiles in Europe, with distribution to chains, department stores and boutiques. Its own brands include Blank, Bouchara and Centa-Star in Europe, and Bianca in the United States.
Abhishek Industries Limited is the flagship company of $450 million Trident Group, India, one of the top towel suppliers to the U.S. market. The Textile Division exports 90% of its production to the U.S. and Europe. In addition to terry towels, the company is the world’s largest wheat straw based paper manufacturer and one of India’s largest yarn spinners. The company also is involved in chemical production and power generation.
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