RSWM Acquires 50% Equity In SISA S.A. Of Spain

RSWM Ltd on May 11, 2007, has announced that it has acquired a 50% equity stake in SISA S.A. (SISA) of Spain, which will enable the Company to considerably expand its footprint in the higher value added international yarn market. The Company will now be rechristened as RSWM SISA S.A.Commenting on the transaction, Mr. Riju Jhunjhunwala, Joint Managing Director of the Company said, SISA brings with it a specialty and value-added yarn business in the international market, with a strong customer profile. It adds an established and well reputed marketing network to our operations, which will enable us to obtain better realizations for our high end yarns. RSWM has been keen to expand its yarn business, especially in the value-added space and the transaction is a part of a series of initiative that we are implementing to enhance our business operations, rapidly and profitably.