Material Information of International Limited

Material Information

Karachi, International Industries Limitedinformed Pakistan Stock Exchange that the Board of Directors of the Company passed a resolution approving a scheme of amalgamation under section 284 (1) of the Companies Act, 2017, to amalgamate its wholly owned subsidiary. IIL stainless Steel (Pvt.) Limited, with and into the Company. As such, as of the Completion Date of March 31, 2018 the entire undertaking of IIL stainless Steel (Pvt.) Limited will stand merged with and into the Company.
The International Industries Limited was established as Sultan Chinoy& Company in Pakistan in 1948. Later it was incorporated as International Industries Limited along the development process. It became a public limited company in 1984. IIL is in the business of producing of GI pipe, steel tubes and pipes, API line pipe & polyethylene line pipes globally. The registered office of the company is located in Karachi. The shares of the company are quoted on the Karachi Stock Exchange of Pakistan.

The manufacturing capacity of the company is 300,000 tons of small diameter steel pipe with OD range (12.70mm – 168mm). The company has plant and storage area of 25 acres along with a power generating capacity of 4MW.

The symbol “INIL” is being used by the stock exchange for the shares of International Industries Limited.