NICL board greenlights acquisition of manufacturing facility

MG News | February 23, 2024 at 03:08 PM GMT+05:00

0:00

February 23, 2024 (MLN): The board of directors of Nimir Industrial Chemicals Limited (PSX: NICL) on Friday approved the acquisition of a manufacturing facility consisting of the property, plant and equipment, the company's filing on PSX revealed.

This is subject to the conclusion of a binding Asset Sale Agreement and associated regulatory approvals.

The facility is located in the south region of Pakistan and this acquisition will result in savings on account transportation costs besides strengthening the company's business in the region and helping to boost exports through the seaport.

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