Karachi: International Packaging Films Limited (IPAK) has announced plans to establish a new subsidiary in Portugal, according to a report released on July 31, 2026. This strategic move is set to enhance IPAK's commercial footprint in Europe through its wholly owned subsidiary, IPAK Connect Packaging Materials Trading FZCO, based in Dubai, United Arab Emirates.

IPAK Connect will incorporate the new entity in Portugal, pending requisite legal, regulatory, and corporate approvals. Once established, the Portuguese subsidiary will be a wholly owned entity of IPAK Connect, thereby becoming an indirect wholly owned subsidiary of International Packaging Films Limited, forming part of the broader IPAK Group.

According to information available from the Pakistan Stock Exchange (PSX), the decision aligns with the company's strategy to deepen its market engagement in Europe, strengthen its marketing and distribution networks, and facilitate future expansion initiatives within the European markets.

The company has committed to keeping the exchange informed about any significant developments concerning this establishment, as it seeks to solidify its influence and operational capacity in a key regional market.