Cherat Packaging Limited has successfully completed the sale of its IV paper bag production line, generating proceeds of $638,000, according to a PSX filing.
This comes after the Board of Directors approved the deal announced on August 22, 2024.
With the conclusion of sales of its paper bag production line, Cherat Packaging said it remains committed to serving the cement industry by providing high quality polypropylene bags.
The company said it is also actively seeking to establish a new SOS/Carrier bag business while expanding its flexible packaging operations.
In November, Cherat Packaging sold its paper bag production line III, receiving proceeds of €440,000 from the buyer. The company stated that the sale process is in line with its strategic operational objectives.