Karachi: International Industries Limited (IIL), the largest manufacturer and exporter of steel and polymer pipes in Pakistan, has announced the establishment of a new subsidiary, "INIL Europe Limited," in Ireland. This strategic move is part of the company's ongoing efforts to broaden its global footprint and explore new revenue opportunities.
IIL has a long-standing reputation as a leading exporter, with its products having been sold in over 60 countries, including regions such as Australia, North America, Europe, Africa, the Middle East, and South Asia. Over the past five years, the company's exports have exceeded USD 150 million, and it has been recognized with the FPCCI's export awards for 24 consecutive years. Furthermore, IIL has contributed more than PKR 6.40 billion in duties and taxes to Pakistan's national exchequer.
Incorporating "INIL Europe Limited" aligns with IIL's growth strategy, which emphasizes sustainable expansion of its domestic and export portfolios. The new subsidiary aims to trade IIL's products across Ireland and other European Union countries, thereby promoting the "Pakistan" brand within Europe. This initiative is expected to not only open new markets for IIL products but also contribute to earning foreign exchange, bolstering economic growth and sustainability for both the company and the country.
According to information available from the Pakistan Stock Exchange (PSX), IIL's expansion into Europe through INIL Europe Limited is seen as a crucial step in leveraging its established brand and reputation for quality and reliability. The company is optimistic about securing a rewarding niche in the European market, thereby enhancing its global presence.
As part of its broader strategic direction, IIL has also established other subsidiaries such as IIL Australia Pty Ltd. in Australia, IIL Americas Inc. in Canada, and IIL Trading (Pvt) Ltd. in Pakistan, reflecting its commitment to exploring diverse markets and introducing new products. This concerted effort underscores IIL's dedication to growth and innovation, ensuring it remains a key player in the international market.