Fast Cables Limited completes IPO-funded expansion
- Says expansion resulted in enhanced production capacity and the induction of advanced, state-of-the-art machinery
Fast Cables Limited (FCL) said on Wednesday it had successfully completed the expansion of plant and machinery at its manufacturing facility, funded through the proceeds of its Initial Public Offering (IPO).
The listed company disclosed the information in a notice to the Pakistan Stock Exchange today.
“The expansion has resulted in enhanced production capacity and the induction of advanced, state-of-the-art machinery, leading to improved operational efficiency, product quality, and optimized production and delivery timelines.”
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The notice further said that with the expanded facilities now fully operational, the FCL was well positioned to meet growing market demand with greater speed and reliability, strengthen its competitive position, and create sustainable value for its stakeholders.
FCL was initially registered as a partnership named Fast Cables & Co in 1998. It was later incorporated as a public limited company in 2008.
The principal activity of the company is manufacturing and selling of all types of electric wires, cables and conductors.
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