Islamabad, Dec 31: Cherat Packaging Limited (PSX: CPPL) has successfully completed the sale of its Papersack Production Line IV, according to an announcement made on Tuesday. The company revealed that it has received $638,000 in sales proceeds from the transaction.
This sale marks the conclusion of the company’s efforts to divest its papersack production lines. Despite this, CPPL emphasized that it will continue to serve the cement industry by supplying high-quality polypropylene bags. Additionally, the company is focused on expanding its business, including the development of a new SOS/Carrier bag line and the growth of its existing Flexible Packaging operations.
Cherat Packaging Limited is primarily involved in the manufacturing, marketing, and sale of paper sacks, polypropylene bags, and flexible packaging materials.
