October 10, 2018 (MLN): Unity foods limited has announced that the management of the company has decided to explore the business of processing and marketing of flour in pursuance of its commitment to expand its operations, in a notification issued on Tuesday, 9th October.
In this regard, Unity Foods Limited plans to initiate due diligence of Sunridge Foods (Pvt) Limited (SPL).
SPL has deployed the latest Swiss technology “PESA Mill” that gives a consistent high quality 100% whole wheat flour. This is the only PESA Mill in Pakistan producing PSQCA certified 100% whole wheat flour. SPL is marketing whole wheat flour under Sunridge brand umbrella
SPL has a capacity to produce 36,000 metric tons of wheat flour per year.
Based on the outcome of due diligence, Unity Foods Limited may acquire up to 69% of the paid capital of the SPL. It is pertinent to note that a private associated company of Unity Foods Limited already holds 5% of the paid up share capital of SPL
In another notification issued by Unity Foods Limited, it announced the appointment of Mr. Amir Shehzad as the new Director in place of Mr. Muhammad Zain Sardar, with effect from October 09, 2018
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