Avanceon expands global footprint with new business entity in Australia

Avanceon Limited has announced the establishment of a new business entity in Australia as part of its global expansion strategy, according to a disclosure submitted to the Pakistan Stock Exchange (PSX) on Thursday.

The company said its wholly owned subsidiary, Avanceon FZE UAE, had registered Avanceon PTY LTD in Queensland under the Australian Securities and Investments Commission in accordance with the Corporations Act 2001.

According to the company, the new entity has been established to expand Avanceon’s presence in the Asia-Pacific region and support growing demand for automation, industrial technology and digital transformation services.

The company disclosed that Avanceon PTY LTD had been registered with Australian Business Number (ABN) 30 693 667 819 and Tax File Number (TFN) 513 629 897.

Avanceon said the Australian subsidiary would focus on providing solutions and services across sectors, including information technology, oil and gas, transport and infrastructure, construction, manufacturing, mining and environmental services.

The company stated that Australia’s industrial and infrastructure sectors offered growth opportunities driven by rising demand for productivity, automation and operational efficiency.

According to the press release attached with the PSX filing, the expansion would help Avanceon strengthen engagement with customers and partners in Australia and the wider Asia-Pacific market.

Avanceon said the move was aimed at increasing shareholder value and strengthening its international footprint.

Avanceon Limited was incorporated in Pakistan on 26 March 2003 as a private limited company, which was converted to a public company on 31 March 2008 under the repealed Companies Ordinance, 1984. The principal activity of the company is to trade in products of automation and control equipment and to provide related technical services.

The company also operates in Qatar, the UAE and Saudi Arabia and provides industrial automation, engineering and system integration services.