April 17, 2020 (MLN): The Board of Directors of International Industries Limited (IIL) have announced via notification to PSX that the State Bank of Pakistan (SBP) has granted the permission to the Company to operate marketing activities through wholly-owned subsidiary i.e. IIL Americas Inc. (IILAI), Canada.

This subsidiary will represent IIL in North America to promote, market and sell the Company's products in the region and explore further expansion possibilities subject to applicable local and international's regulatory approvals.

Further, this venture will also enable the Company to utilize and expand its current capacity and improve export volume in a higher margin territory, offsetting the impact of the slowdown in its traditional export markets.

The Company is confident of leveraging its brand and its reputation for quality, and reliability to establish a rewarding niche for itself in North America.

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