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DCL unit is RIL's next target - Views on News from Equitymaster
 
 
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  • Dec 17, 1999

    DCL unit is RIL's next target

    In yet another shake-up in the polyester industry, DCL Polyester has entered into negotiations with Reliance Industries for the sale of its polyester film yarn (PFY).

    According to a report in a leading financial daily, institutional sources disclosed that the first round of parleys between both the companies have been concluded. If industry sources are to be believed, initially the agreement will be for a polyester conversion arrangement, with a full-fledged takeover being effected only in the second stage.

    RIL's move towards DCL's PFY unit is line with the former's long term strategy. The company plans to double its polyester capacity over three years. Acquisitions are expected to play an instrumental role in helping RIL beef up its capacity. After RIL took over Raymond Synthetics earlier, speculation was rife in the industry about its next target.

    With the takeover of the PFY unit, RIL's PFY capacity at 370,300 tpa will account for nearly 40% of the total market capacity. RIL has set its sight on acquiring one of the top three slots in the global polyester business. It will continue to focus on costs, and plans to become one of the cheapest PFY producers.

     

     

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