Hi-Tech Lubricants Establishes New Subsidiary for Polymer Business
Published
Hi-Tech Lubricants, a Pakistan-based manufacturer of oils and lubricants, has announced the establishment of a new subsidiary company.
The new company is named Hi-Tech Synthetics and Packages (Private) Limited. It is wholly owned by Hi-Tech Lubricants, which means that all of its shares are held by the parent company. The subsidiary has been created so that the company's polymer-related business can be run under it.
Polymer is an important raw material used in making plastic and various industrial products. By transferring its polymer business to a separate entity, the company has decided to give special attention to this sector.
However, the announcement did not provide further details about the subsidiary's capital, business plans, or the date when operations will begin. More information is expected to be released by the company in the coming days.
Sources: Investify
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