Feroze1888 Mills Limited (FML), a leading Pakistani textile exporter, approved on Thursday the formation of a wholly-owned subsidiary in Dubai.
“The Board of Directors of Feroze1888 Mills Limited has, subject to applicable legal and regulatory approvals, approved the formation of a wholly-owned subsidiary in Dubai, UAE,” the company said in its notice to the Pakistan Stock Exchange (PSX).
Pakistan’s Feroze1888 Mills to establish subsidiary in UK
Incorporated in Pakistan as a public limited company in 1972, FML is in the business of manufacturing and exporting specialised yarn and textile products categorised into bath, beach and kitchen products.
Besides having an export market in over ten countries worldwide, FML also caters to the needs of the local market.
The company is partnered with 1888 Mills (USA) and has manufacturing units in Sindh and Balochistan.
In December last year, FML announced plans to establish a wholly-owned subsidiary in the United Kingdom.
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