Premium Textile Mills approves Rs20m investment in recover Pakistan JV

MG News | September 11, 2026 at 03:59 PM GMT+05:00

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September 11, 2026 (MLN): Premium Textile Mills Limited (PSX: PRET) has approved an equity investment of up to Rs20 million in Recover Pakistan (Private) Limited, a proposed joint venture company with Recover HoldCo, Inc.

The Board of Directors approved the proposal through a Circular Resolution dated September 10, 2026.

The proposed investment is intended for the sourcing, sale and trading of recycled cotton fiber and related textile products in domestic and international markets. It is expected to provide PTML with access to new markets and business opportunities, contribute to the company's profitability, and enhance shareholders' value.

The proposed investment remains subject to approval by the members of the company at the forthcoming Annual General Meeting.

The aforementioned information was disseminated through a notification to Exchange.

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