Yarn Syndicate, a government-recognised Trading House, was incorporated in May '46 as a public limited company. It belongs to the Patodia-YSL group. _x000D_ _x000D_ The company is one of the largest merchant exporter of cotton yarn from the country. In 1994, the company proposed to set up manufacturing facilities for knitted fabrics and dyed yarn in order to cater to the international buyers with a committed delivery of quality products at competitive price range. The unit was set up at Mudalipalayam (Periyar district), Tamilnadu. The company came out with a public issue in Mar.'94 to part-finance the project. Commercial production of the knitting unit commenced production in 1994-95. _x000D_ _x000D_ The yarn dyeing unit could not be set up by the company due to agitation in the area of Bhawani River Industrial Belt by the local people along with negative attitude of the authorities towards such projects._x000D_ _x000D_ During 1997-98, the company achieved an export turnover of Rs 80.31 cr. The company was awarded a 'Gold Trophy' for higest exports and 'Bronze Trophy' for export of Cotton Yarn to Non Quota Countries by TEXPROCIL for export during 1996-97._x000D_ _x000D_