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Ghani Glass shareholders to benefit from merger says CEO

The merger of Ghani Float Glass Limited (CFGL) into Ghani Glass Limited (GGL) would bring benefits to the shareholders of both companies, and also strengthen the confidence of customers, banks and sup…

The merger of Ghani Float Glass Limited (CFGL) into Ghani Glass Limited (GGL) would bring benefits to the shareholders of both companies, and also strengthen the confidence of customers, banks and suppliers. So said Imtiaz Ahmed Khan, chief executive officer of Ghani Group of Companies while briefing participants at a function held on 12 June 2006 to mark the merger. Imtiaz said that state-of-the-art glass plants of GGL, located in Haripur and Karachi, supply glass containers to all multinational and national pharmaceutical and food and beverages companies in Pakistan. Ghani Group set up Ghani Float Glass Limited, Pakistan“s first float glass plant, at Sheikhupura near Lahore, in 2005. To ensure international standards of production quality, more than 20 foreign engineers are employed at the plant. Previously, Pakistan imported 100% of its float glass at a cost of PKR 1 billion. After the start of production at Ghani Float Glass, imports have almost ceased and the company is now earning foreign exchange for the country through float glass exports, he added. The CEO went on to say that after the merger, the annual production capacity of Ghani Glass would increase to 300,000 tons, sales revenue would be over PKR 4 billion and the company“s balance sheet would also be over PKR 4.5 billion.

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