Packages Limited has entered into a strategic alliance with A&R Carton AB of Sweden.This was notified in a notice sent to the Pakistan Stock Exchange (PSX).
A&R Carton is a leading packaging company with fourteen production sites in nine European countries offering carton-packaging concepts to a wide range of consumer market segments.
The objective of the alliance is to establish cooperation in the manufacture, procurement, sale and marketing of packaging material.Pursuant to the agreement Packages will forward to A&R Carton for production, packaging orders from its customers in countries where A&R Carton has production facilities and A&R Carton will forward to Packages for production and packaging orders received by it from Pakistan.
The agreement marks the beginning of a mutually beneficial collaboration which will give Packages access to a wider global market.
It is pertinent to mention that this agreement does not constitute a joint venture or an equity participation from A&R Carton.
Currently, the stock for Packages is trading at Rs 873 after an increase of Rs 19.45 (2.23pc).