Pakistan Company News – Resignation of Director of International Steels Limited

Resignation of Director of International Steels Limited

Karachi, International Steels Limitedinformed Pakistan Stock Exchange that Syed Hyder Ali has tendered his resignation as director on the Board of the Company with effect from August 10, 2018.

International Steels Limited was incorporated on 3 September 2007 as a public unlisted company limited by the International Industries Limited. The foundations of the company are developed under the Companies Ordinance, 1984. The primary activities of the Company are business of manufacturing of cold rolled steel coils and galvanized sheets. The production capacity of the company is 250,000 tons per annum of cold rolled coils from which 150,000 tons is Hot Dipped Galvanized Steel. The commercial operations of the project initiated in January 1, 2011. The registered office of the company is located in Karachi. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan.

The equity contributions of the company come from Sumitomo Corporation and International Finance Corporation which has develop the country’s engineering and hi-tech manufacturing industries. The group organizations of the company include International Steel Limited, Pakistan Cables Limited and International Industries Limited.

The company has an Effluent Treatment Plant and an 18MW gas fired power plant. The power plant has started production and supplying to the KESC.

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