Merger of Libaas Textile into Ghani Global Glass approved
Shareholders of Libaas Textile Limited and Ghani Global Glass Limited unanimously approved the merger of Libaas Textile Limited with and into Ghani Global Glass Limited. The meeting was presided over by Ahmad Pervaiz, Advocate and Khawaja Mohd Jawaad Asmi, Advocate, appointed by Lahore High Court for the meeting.
On this occasion Hafiz Farooq Ahmad, Managing Director, Ghani Global Group briefed that Ghani Global Glass Limited is setting up a glass tubing manufacturing project at Phool Nagar, District Kasur. This is the first ever tubing project based on European technology. This is an import substitute project and after commencement of production, the country will save millions in shape of foreign exchange. Glass tubing is raw material of pharmaceutical industry. This merger will be benefited to shareholders of both the companies and stock exchanges. Beside this, Ghani Global Glass will provide jobs to hundreds of peoples and will help to industrial activities in the country.-