Sunridge Foods to invest Rs1bn in 2 new subsidiaries for Unity Foods

MG News | August 02, 2023 at 01:31 PM GMT+05:00

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August 02, 2023 (MLN): The Board of Directors of Sunridge Foods (Private) Limited, the wholly owned subsidiary of Unity Foods Limited (PSX: UNITY), has decided to incorporate two wholly owned subsidiaries, "Unity Plantations (Private) Limited" and "Unity Technologies (Private) Limited" with an investment of Rs500 million each, UNITY’s latest filing on PSX revealed.

Unity Plantations Private Limited is being established for carrying out the business of corporate farming and related activities, import and export of agricultural produce and equipment, etc.

This is to support UNITY’s aim to enhance food security and develop an efficient farm-to-fork supply chain across the Country.

While Unity Technologies (Private) Limited is being incorporated for the purpose of carrying out the business of a dynamic and innovative startup aiming to provide comprehensive latest technology solutions related to the existing business lines of parent companies.

At the time of writing, the share of UNITY is being traded at Rs27.79, up by 24 paisa or 0.87% on the day.

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