NICL strikes deal with P&G for soap manufacturing plant acquisition

MG News | April 24, 2024 at 02:42 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

April 24, 2024 (MLN): Nimir Industrial Chemicals Limited (PSX: NICL) has reached a definitive agreement with Procter & Gamble Pakistan Private Limited for the acquisition of its soap manufacturing facility situated in Hub, Baluchistan pending customary closing and regulatory approvals.

NICL informed about this development through its latest notice on PSX today.

When the transaction is completed, the plant will be owned by NICLand it will utilize the Plant for its business interests including but not limited to soap manufacturing for its clients.

Furthermore, NICL will commence toll manufacturing of Safeguard products for P&G.

This strategic move is set to elevate capacity to cater to its customers efficiently.

Acquiring this facility marks a significant step in fortifying footprint in the South, while also enabling expanded exports through the seaport.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	177,039.83 457.43M	2.69% 4639.92
ALLSHR	106,439.15 980.52M	2.42% 2511.25
KSE30	52,890.43 243.06M	2.84% 1462.27
KMI30	253,474.66 222.84M	2.73% 6731.57
KMIALLSHR	69,154.67 541.49M	2.45% 1654.73
BKTi	48,191.73 63.48M	2.59% 1217.44
OGTi	35,876.09 14.73M	1.97% 692.56

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	66,320.00	66,510.00 66,110.00	-255.00 -0.38%
BRENT CRUDE	83.36	85.93 82.40	-3.97 -4.55%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	3.75 3.14%
ROTTERDAM COAL MONTHLY	125.00	125.00 125.00	-6.00 -4.58%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	81.46	81.47 80.92	0.71 0.88%
SUGAR #11 WORLD	13.64	13.90 13.61	-0.06 -0.44%