In a notice to the Pakistan Stock Exchange, Thal Industries notifies its intention to acquire an International Sugar Company with Foreign Operations. The notification reads;
The notice explains that Thal Intend to go for acquisition in a joint venture with its Associated Companies AlMoiz Industries Limited and Naubahar Bottling Company.
Thal Industries is a leading Sugar Company which had Revenue of Rs. 14 billion and its Assets size stands at Rs. 10.2 billion at 2018 end.
The company believes that its Bagasse based power plant along with the installation of FFEs and high pressure 165 Tons boiler is expected to decrease emissions and fuel consumption resulting in increased production efficiencies and power export. Thus these will cast a material impact on the company’s financial position which will be strengthened.