Crescent Steel greenlights sale of Idle Hadeed Division assets

By MG News | Category Equity | October 04, 2024 at 09:26 AM GMT+05:00

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October 04, 2024 (MLN): The Board of Directors of Crescent Steel & Allied Products Limited (PSX: CSAP) has approved the disposal of plant and machinery and pre-engineered building of Crescent Hadeed (Billet) Division, which was non-operational for the past couple of years.

This is subject to the finalization of terms and conditions and the signing of the agreement.

Consequently, the operations of Crecent Hadeed (Billet) Division will be classified as “discontinued operations”.

The information above was disseminated through a notification to Exchange.

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