FAZE THREE LIMITED

Faze Three Limited was initially incorporated as a private Company in the name of 'Faze Three Exports Private Limited' in January, 1985. The Company was converted into a public limited Company and the name of the Company was changed to Faze Three Exports Limited in January, 1994 and again to Faze Three Limited in 2003. Company is engaged in manufacturing and export of superior quality high-end Home Textile products items viz. bathmats, rugs, blankets, throws, cushions, etc.. The Company is a direct exporter to top retail store chains in USA, UK and Europe. Apart from these, it has a diversified product basket which includes cotton and rubber backed bathmats, durries, tufted bed spreads and throws, hand tufted carpets and rugs made of cotton and wool, cushion covers, curtains as well as poly cotton and cotton damask table covers, napkins amongst many others. It has undertaken capex towards automation and streamlining existing facilities to improve efficiency and de-bottleneck operations. In Feb.'95, FTEL came out with a Rs 12.66-cr public issue (premium: Rs 110) to part-finance the proposed EOU to manufacture furnishing fabric, etc, at a project cost of Rs 15.7 cr. The company manufactures and exports cotton handlooms, furnishing fabric and made-ups at its unit in Haryana. Its products include dhurries, cushions, furnishings, carpets, etc. FTEL exports to Japan, Taiwan, Hong Kong, Germany, the US, etc. The company took over ARR Products on 31 Mar.'94. FTEL was the recipient of gold medals for its export performance in 1991-92 and 1992-93. In 1995-96, the business was adversely affected due to an earthquake in Japan, which constituted a major part of exports. The construction work at the new project site at Silvassa was completed. New machineries were installed for manufacturing bathmats, a new product item. The company is taking up new projects as part of its expansion and diversification plans into the field of home furnishing and other interior furnishing related products. The company has drawn an expansion plan for silvassa, alongwith their joint venture partners Achter & Ebels, Germany which are pioneers in field of automotive fabrics. During 1998-99, the company hived of Dadra (UT) manufacturing unit and to acquired controlling stake in V R Woodart Limited (formerly known as Veera Treatwood Limited). V R Woodart Ltd is 100 % EOU engaged in Mfg & Exporting of Rubber wood furniture. In 1999-2000, the Autofab division of the company has been hived off to the Joint Venture Company Aunde Faze Three Autofab Ltd'. During March 2003 the name of the company was changed to Faze Three Limited. The Commercial production at Dapada Factory was commenced in April, 2002 and the expansion and modernization of the Dyeing unit at Panipat was also completed. The Dye House Plant of the Company at Vapi was commissioned on April 10, 2005. In 2007-08, the Company acquired a German based manufacturing unit Pana Textil GmbH through a Special Purpose Vehicle (SPV) Faze Three Netherlands B.V. on 11th November 2007 and the said Company became a Dormant Company in 2016. In 2021-22, the Company incorporated a wholly owned subsidiary named 'Mats and More Private Limited' on March 11, 2022. It also commenced expansion at Handloom Home Textiles division located at Panipat for expanding capacity to 3x from current capacity in 2023.