Gillette Pakistan Limited (PSX: GLPL) Thursday said Gillette Company LLC has conveyed to Gillette Pakistan Limited, including its Board of Directors, the decision of the Procter & Gamble Company to discontinue its business in Pakistan as part of its global restructuring program, including portfolio, supply chain and organization choices to accelerate growth and value creation.
In a notice to the Pakistan Stock Exchange (PSX), the company said a meeting of the Board of Directors of Gillette Pakistan Ltd will be convened shortly to evaluate the actions required for this business discontinuation – including, where relevant, the potential de-listing of Gillette Pakistan Limited from the Pakistan Stock Exchange, in compliance with all applicable legal and regulatory requirements.
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Gillette Pakistan Limited was incorporated on December 9, 1986 as a public limited company under the repealed Companies Ordinance, 1984 (now the Companies Act, 2017) and is a subsidiary of The Series Acquisition B.V. Netherlands, which is a wholly owned subsidiary of the P&G Company, USA.
The principal activities of the company include marketing and selling of blades and razors.
