Islamabad: The Board of Directors of Wah Nobel Chemicals Limited has greenlighted a significant expansion of its Urea Formaldehyde Moulding Compound (UFMC) plant capacity, which was decided during a board meeting via video link at Pearl Continental Hotel, Bhurban on August 13, 2024.

In a strategic move aimed at bolstering production capabilities, the company's board has approved an increase in the annual production capacity of the UFMC plant from 13,000 metric tons to 19,000 metric tons. This decision aligns with Wah Nobel's objective to enhance operational efficiency and meet the growing market demands.

According to information available from the Pakistan Stock Exchange (PSX), the board meeting also led to the approval of the budget for the fiscal year 2024-25. The announcement complies with the disclosure requirements stipulated under Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Rule Book.

The enhancement of the UFMC plant’s capacity is expected to position Wah Nobel Chemicals favorably in the competitive chemicals market, paving the way for increased productivity and sustained growth.