Shasha Denims takes ownership of Berto Industria Tessile subsidiary to 98%
Bangladesh-based exporter Shasha Denims recently acquired another 18% stake in EOS Textile Mills, a Bangladeshi subsidiary of Italy’s Berto Industria Tessile. The move has taken Shasha’s ownership of EOS to 98%, local media have reported.
Managing director of Shasha Denims, Shams Mahmud, told reporters that the two companies share a vision for high-end fabric production, research and development, corporate social responsibility and quality.
The purchase will allow Shasha to offer a wider range of fabrics, particularly “high-end denim, using Italian knowhow and techniques”, Mr Mahmud said.
“EOS is the largest Italian investment in Bangladesh, and it is a matter of pride that a Bangladeshi company has acquired it, showing how far we have come. We will be making further expansions in the coming days,” he continued.
