Hytone Texstyles, earlier known as Hytone Synthetics was incorporated as a private limited company on January 11, 1989 and was converted into a public limited company on May 14, 1992, it got its present name on July 08, 2000. The company is engaged in manufacturing of blended and worsted suiting made from polyester, blended, worsted and filament yarn.
The company has its manufacturing facilities at Navi Mumbai in Maharashtra with an installed fabric processing capacity of 18 million meters and a weaving capacity of 2.325 million meters. The products are marketed under the brand name Hytone. It has a well established dealer network in India and major export destinations include Europe, the Middle East and South East Asian countries.
The Company had made reference to BIFR in December 2004 under Section 15 of Sick Industrial Companies (Special Provisions) Act, 1985 ("SICA"). Accordingly case has been registered. The Company has submitted various proposals to Financial Institutions and Bankers for rehabilitation of the Company The Company was successful in arriving at one time settlement with Canara Bank and The South Indian Bank Limited.
Business area of the company:
The Company is presently working on job work basis