CPPL to increase production capacity at a cost of Rs1bn
MG News | February 16, 2022 at 09:51 AM GMT+05:00
February 16, 2022 (MLN): In view of the encouraging response received from the market, the Board of Directors of Cherat Packaging Limited (PSX: CPPL) has decided to acquire another Rotogravure Printer together with allied equipment to enhance the production capacity of flexible packaging division at a cost of approximately Rs1 billion, the company filing on PSX showed on Wednesday.
The equipment will be acquired from the world's leading European suppliers and the expansion cost will be financed by way of a long term loan, the notification added.
The aforestated expansion is expected to be completed by March 2023. Enhancement in production capacity will enable the Company to meet the demand of its valued customers in an effective manner and optimize the utilization of its available resources.
Along with the material information, the company also posted financial results for the half year ended on December 31, 2021, as per which the profitability of the company surged by 56.54% YoY to clock in at Rs553.66 million.
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