Pakistan Stock Exchange (PSX) has announced that EMCO Industries will be classified in "Cable & Electrical Goods" with effect from November 21, 2016. According to a PSX notice issued on Friday, EMCO Industries has informed the Exchange that due to severe shortage of gas the company has closed its "Tile Division" since January 2014 and only insulator plant has been operating, so the company may be classified in "Cable & Electrical Goods".
In the note number 1.1 of the annual accounts of the company it is mentioned that "The Company principally engaged in the manufacture and sale of high/low tension electrical porcelain insulator, switchgear and ceramic tiles". "In light of the above Sectorial Classification of the company will be classified in, "Cable & Electrical Goods" with effect from November 21", the PSX said.
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