Himatsingka Seide buys 70% in Italy's Bellora

Himatsingka Seide has entered into definitive agreements to acquire a 70% equity stake in Giuseppe Bellora SpA, Italy.

According to a release issued by Himatsingka to the BSE today, the transaction is expected to be completed in February 2007.

'Additionally, the company is investing Rs 400 crore in a setting up a integrated bed linen manufacturing facility located at the Special Economic Zone (SEZ) in Hassan, Karnataka. Trial production at the new facility is likely to commence in February 2007 with commercial production soon thereafter.', the release added.