Nimir Industrial Chemical Limited (NICL) has issued a clarification in response to a media report claiming that ‘Nimir has entered the fast-moving consumer goods (FMCG) business’.
“This refers to the news item published in the media, wherein it was incorrectly stated that NICL is going to enter the FMCG Market,” the statement read. “It is clarified that Nimir Chemicals Ltd has no intention of entering the FMCG market as a direct player.”
According to the statement, “Nimir Industrial Chemicals is a third-party manufacturer for many MNCs, and it is in this regard has decided to invest Rs750 million to set up production facilities for home and personal care products. This investment will further enhance NICL’s capability as a third-party manufacturer, wherein it will be capable of producing more FMCG products for our MNC customers.”
