NICL takes control of Hub Plant from Procter & Gamble

By MG News | September 02, 2024 at 10:05 AM GMT+05:00

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September 02, 2024 (MLN): Nimir Industrial Chemicals Limited (PSX: NICL) has completed the acquisition of the soap manufacturing facility located in Hub, Balochistan, previously owned by Procter & Gamble Pakistan (Pvt.) Limited, the company's filing on PSX revealed today.

The transition of operational control to NICL took effect on September 1, 2024, marking a significant milestone in the company's expansion plans.

This strategic acquisition will enable the company to strengthen its presence in the southern region, increase its production capacity, and expand its export operations through seaports.

"We are confident that this transition will significantly contribute to our company's growth and enhance shareholder value in the years ahead," the notification issued to the bourse reads.

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