Gul Ahmed Textile Mills Limited has approved the acquisition of an industrial property in the Sindh Industrial & Trading Estate (SITE) in Karachi’s Nooriabad area. The company’s board authorised management to complete all legal, regulatory and corporate formalities related to “Plot No. A-44 together with the land, and building, plant, machinery, allied equipment, fittings and appurtenances thereon.”
The notice, filed with the Pakistan Stock Exchange (PSX), also designated the CEO to execute the transaction independently and the CFO and Company Secretary jointly to execute all necessary acts and deeds.
The move aligns with Gul Ahmed Textile’s strategic shift to bolster its manufacturing footprint and integrate vertically by acquiring property with existing plant and equipment—potentially reducing lead times and enhancing production capacity in a competitive export environment.