September 15, 2021 (MLN): The management of ADOS Pakistan Limited (ADOS) has decided to shift the workplace of the Company from the industrial estate of Hattar to the Industrial Zone of Faisalabad.
In this regard, the management has decided to sell the land and building of Plot No. 43 Phase III Industrial Estate of Hattar KPK and to purchase land in the Faisalabad Industrial Zone and construct the building thereof.
The above decision has been made in accordance with the previous information to the members of the company in the directors’ report for the previous few years regarding a slump in orders from the Exploration and Production Companies operating in Pakistan, as per the notice issued to Pakistan Stock Exchange (PSX)
The surplus on sale of land and building will be utilized for the purchase of new and modernized machinery as this will greatly help to diversify the manufacturing of engineering products of the company and to have more customer line in addition to E&P Companies and to cover business sector operating in Faisalabad, Gujranwala and Sialkot areas.
