Ismail Industries to Set Up Subsidiary in UAE

Ismail Industries Limited (PSX: ISIL) has decided to establish a wholly-owned subsidiary in Abu Dhabi, UAE, the company informed the main bourse on Friday. “The subsidiary is intended to, inter alia, undertake manufacturing, marketing, sales, distribution, of all kinds of food products, including but not limited to biscuits and confectionery and allied products,” the stock filing said. The company will accordingly seek all necessary regulatory approvals and proceed with the incorporation process once the same has been obtained, the filing added. The principal activities of the Company are manufacturing and trading of sugar confectionery items, biscuits, potato chips, cast polypropylene (CPP) and Biaxially-oriented polyethylene terephthalate (BOPET) film under the brands of ‘CandyLand’, ‘Bisconni’, ‘Snackcity’ and ‘Astro films’ respectively.