Sindh High Court has approved the merger of Archroma Chemicals with Archroma Pakistan Limited (PSX: ARPL), the company informed the Pakistan Stock Exchange on Wednesday.
“In continuation of our earlier disclosure dated 23rd June 2023, we are pleased to announce that vide order passed in J.C.M. No. 11 of 2023, the Honourable High Court of Sindh at Karachi has formally allowed the said petition and, inter alia, sanctioned the Scheme of Arrangement for the merger, by way of amalgamation, of Archroma Chemicals Pakistan (Private) Limited (formerly Huntsman Textile Effects Pakistan (Private) Limited) with and into Archroma Pakistan Limited (along with ancillary matters thereto),” the filing stated.
Archroma Pakistan Limited is a limited liability company and is primarily engaged in the manufacture, import, and sale of chemicals, dyestuffs and coating, adhesives, and sealants. It also acts as an indenting agent.
The company is a subsidiary of Archorma Textiles Gmbh, registered and having headquarters in Reinach, Switzerland.