CPPL sells Kraft paper lines I, II for Rs58.6m

MG News | August 21, 2023 at 10:37 AM GMT+05:00

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August 21, 2023 (MLN): Cherat Packaging Limited (PSX: CPPL) has received a sum of Rs58.6 million from the sale of its old Kraft Paper sack Lines I and II, as revealed in the company's filing on the local bourse today.

To note, CPPL had made disclosures regarding the sales of its paper sack lines on June 22, 2022, and February 16, 2023.

The notice further stated that the company will be able to meet the limited demand for paper sack bags with its remaining capacity.

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

At the time of writing, the company’s share is being traded at Rs104.05, up by 89 paisa or 0.86% compared to the previous close.

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