Ideal Spinning Mills to exit spinning business

MG News | July 11, 2025 at 04:19 PM GMT+05:00

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July 11, 2025 (MLN): Ideal Spinning Mills Ltd. is set to discontinue its spinning operations following board approval for the sale of a substantial portion of related plant and machinery.

This strategic shift came in response to deteriorating market conditions for yarn and rising production costs.

While spinning operations are winding down, the company will continue to operate its weaving and socks units—segments that have shown greater resilience amid sector-wide disruptions.

In addition, an Extraordinary General Meeting is scheduled for August 11, 2025, at the company’s Karachi registered office, where shareholders will vote on the proposed restructuring.

Share transfer books will be closed from August 5 to August 11 to determine eligibility for participation.

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