Cherat Packaging sells papersack line V for €4.4m

MG News | February 29, 2024 at 12:59 PM GMT+05:00

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February 29, 2024 (MLN): Cherat Packaging Limited (PSX: CPPL) has successfully completed the sale of its Papersack Line V and has also received sales proceeds of €4.4 million from the buyer, the company filing on the local bourse showed today.

The company will be able to meet the demand of papersacks with Line III & IV having a combined capacity of 160 million papersacks per annum, in case there is demand for it, the notice said.

CPPL's main business activities are manufacturing, marketing and sale of paper sacks, polypropylene bags and flexible packaging material.

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