Grasim Industries hikes its stake at Canadian JV

April 14th, 2008 - 2:33 pm ICT by admin  


Mumbai, April 14 (IANS) Grasim Industries Limited, a flagship company of the Aditya Birla Group, said Monday that it had increased its stake in AV Cell Inc., a joint venture company in Canada, from 25 percent to 45 percent for a sum of Rs.240 million. Grasim’s nationwide retail network includes 50 exclusive showrooms as well as 200 wholesalers and 25,000 multi-brand outlets through which it reaches its customers.

Grasim also caters to international fashion houses in the US and Britain, supplying fabric to them for manufacturing garments available in some of the world’s largest retail chain stores.

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