Pak Leather Crafts retires three decade old machinery

April 28, 2025 (MLN): In a significant operational move, Pak Leather Crafts Limited (PSX: PAKL), a prominent manufacturer and exporter of leather products, has announced the sale of its aging production machinery, which has been in use for over three decades.

This decision comes as part of the company’s strategic steps to modernize its manufacturing processes and sustain business efficiency. The sale is scheduled to be finalized in the upcoming month.

The resolution to sell the machinery was approved during the annual general meeting on October 28, 2024, in compliance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange.

To ensure seamless continuity of operations, Pak Leather Crafts Limited has entered into a toll manufacturing agreement with a nearby facility.

This arrangement will enable the company to commence production at the new site starting May 2, 2025, without any disruption to its supply chain or commitments.

The announcement was formally communicated to the General Manager of the Pakistan Stock Exchange Limited, with a request to circulate the material information among TREC Holders, ensuring transparency with stakeholders.

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