Arctic Textile board approves lease acquisition of spinning units for expansion

By MG News | Category Equity | September 27, 2024 at 03:20 PM GMT+05:00

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September 27, 2024 (MLN): The board of directors of Arctic Textile Mills Limited (ARCTM) has approved the acquisition of spinning unit(s) on lease at market-competitive rates, effective October 1, 2024.

This decision is in response to the increased yarn conversion orders and is part of the company's business expansion efforts.

The agenda was approved during the board meeting held on September 26, 2024, as communicated by the company today.

It is worth noting that ARCTM is a public limited company incorporated in Pakistan under the repealed Companies Ordinance, 1984 (Now Companies Act, 2017).

The company manufactures and deals in all types of yarn.

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