Textured Jersey Sri Lanka eyes two acquisitions to grow

COLOMBO (EconomyNext) – Textured Jersey Plc said it was considering the purchase of a knitting mill based in India and a Sri Lanka based fabric printer, where its key shareholder Brandix already had a stake.

Ocean India, a knit fabric maker based in the Brandix India Apparel City in Visakapatnam, already had a technical service agreement with TJL, the firm said in a stock exchange filing.

The second target, Quenby Lanka, located in Seethawaka in Sri Lanka was already a business partner of TJL.

The acquisition would speed up business integration and regional growth, the firm said.

Ernst and Young, Chartered Accountants were producing an independent valuation.