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

NICL retains "A+" long-term rating from PACRA
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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.

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Posted on: 2024-04-24T14:42:05+05:00