NICL to setup wholly owned subsidiary in Uzbekistan

December 09, 2022 (MLN): The board of directors of Nimir Industrial Chemicals Limited (PSX: NICL) on Friday approved the establishment 100% owned subsidiary in the jurisdiction of Uzbekistan under the name and style of "Nimir Overseas FE LLC", the company informed through a notification to exchange.

The aforesaid development will be carried out subject to compliance with the applicable regulations and rules of the Republic of Uzbekistan.

With its state-of-the-art manufacturing facilities that comply with international standards on HSE and quality assurance, Nimir has established itself as a reliable partner for providing third-party manufacturing services in various personal and home care products.

The product portfolio of the company includes a large range of oleo chemicals, chlor alkali, coatings, emulsions, polyester, textile chemicals, paper chemicals, construction chemicals and application services, aerosols, personal and home care products, and alternate energy solutions.

The company also produces construction chemicals that are used from initial construction to repair and maintenance while the trained personnel ensure high-quality work and zero environmental waste.

At the time of writing, the stock of the company is being traded at Rs69, down by 1.36% DoD. 

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