Ismail Industries Limited (PSX: ISIL) has decided to establish a wholly owned subsidiary of the Company in Spain.
The Board of Directors of Ismail Industries Limited through circular resolution has resolved to establish a wholly owned subsidiary of the Company in Spain, Europe (Subsidiary), subject to all applicable regulatory approvals, the firm said in a notice to the Pakistan Stock Exchange (PSX) on Thursday.
This strategic decision marks a significant milestone in the company’s long-term vision to expand its global footprint and establish its leading brands in international markets, the notice said.
The new subsidiary in Spain will serve as a strategic gateway for the company to tap into the European Union (EU), one of the largest consumer markets in the world, it added.
Read more: Ismail Industries to Establish Bisconni Subsidiary in UAE with $10 Million Investment
The principal activities of the ISIL are manufacturing and trading of sugar confectionery items, biscuits, potato chips, cast polypropylene (CPP) and Biaxially-oriented polyethylene terephthalate (BOPET) film under the brands of ‘CandyLand’, ‘Bisconni’, ‘Snackcity’ and ‘Astro films’ respectively.
