Ecopack’s board approves CAPEX for new PET bottle-blowing line

MG News | September 27, 2024 at 04:12 PM GMT+05:00

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September 27, 2024 (MLN): The Board of Directors (BoD) of Ecopack Limited (PSX: ECOP) has approved the capital expenditure (CAPEX) for the acquisition of a PET bottle-blowing line, which will increase the company’s bottle production capacity by 22%.

The company disclosed today that the Board has also recommended to the AGM, the increase in the authorized share capital from Rs500 million to Rs1 billion by the addition of 50m shares of Rs10 each.

It is worth noting that Hussain Jamil has been appointed as Chief Executive Officer of ECOP, for the remainder of the board term till October 2025.

It was further communicated that the actions made by Hussain Jamil as the CEO of the Company since February 2023 have been ratified by the Board.

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