Nimir Industrial Chemicals clarifies news item regarding its entry in FMCG market
MG News | September 09, 2020 at 10:26 AM GMT+05:00
September 9, 2020 (MLN): Nimir Industrial Chemicals Limited has clarified the news item published in an E-Magazine, pertaining to company’s entry in the FMCG business.
In a notification to Exchange, the company clarified that it has no intention of entering the FMCG market as a direct player.
Nimir Industrial Chemicals Limited is a third-party manufacturer for many MNCs, and it is in this regard has decided to invest Rs 750 million to set up production facilities for home and personal care products, the company said.
This investment will further enhance NICL’s capability as a third-party manufacturer, the notification added.
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