IIL to expand production capacity
KARACHI: Ismail Industries Ltd (IIL) has proposed to expand its polyester film production capacity by 200 per cent.
In a filing to the Pakistan Stock Exchange (PSX), the company stated that it has entered into an agreement with the plant supplier Bruckner Maschinenbau GmbH & Co KG of Germany, for acquisition of BOPET film manufacturing plant and machineries having production capacity of 36,000 tonnes per annum.
The project is expected to be commissioned before the end of 2019.—Equities Correspondent
Investors interested in Bunge sugar business
CHICAGO: Bunge Ltd has “a few interested parties” that might want to acquire its global sugar- trading business, the chief executive said in an interview on Wednesday, after the company said it was exiting the business to concentrate on core grains and agriculture operations.
CEO Soren Schroder also told Reuters that Bunge’s board of directors supports him and the management team, after the company reported a fourth-quarter loss.
Bunge has received takeover approaches from rival Archer Daniels Midland Co and Glencore Plc. The company rebuffed Glencore last year, and has declined to comment on ADM’s approach.—Reuters
Published in Dawn, February 15th, 2018