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18-10-2024, 11:03 AM
FACB Industries started off as a mattress company. In the early 90s it ventured into China as well the into the stainless steel pipes and fittings sector. Thereafter there was a change in the controlling shareholder. But there was no new business ventures and the group continue with the bedding and steel operations for many years
About a decade ago, the group started to divest its steel business so that today it is left with the bedding operations, its investment in China and lots of cash.
In Dec last year, the controlling shareholder pass away and his son has taken over the management of the group. Nothing new has happened so far but I hope that with a new person at the helm, there may be a change in the business fortune. So keep FACBInd in your radar.
About a decade ago, the group started to divest its steel business so that today it is left with the bedding operations, its investment in China and lots of cash.
In Dec last year, the controlling shareholder pass away and his son has taken over the management of the group. Nothing new has happened so far but I hope that with a new person at the helm, there may be a change in the business fortune. So keep FACBInd in your radar.