Air Link Communication Limited has announced its plans to acquire an industrial plot spanning 3 acres, alongside an additional 5-acre plot purchased by its wholly owned subsidiary, Select Technologies (Pvt.) Limited.
The company disclosed this development through a notice to the Pakistan Stock Exchange (PSX) on Tuesday.
“Air Link Communication Limited intends to acquire an industrial plot measuring 3 acres, alongside an acquisition of a 5-acre industrial plot by its wholly-owned subsidiary, Select Technologies (Pvt.) Limited, located at Sundar Green Special Economic Zone, Lahore. The combined value of these purchases is Rs572 million,” read Air Link’s notice.
Read This: Air Link’s subsidiary to launch locally manufactured Xiaomi TVs in Pakistan
“These acquisitions are aimed at facilitating our current and future expansion needs and entitling us to all the applicable benefits as provided under the Special Economic Zones Act, 2012,” the company said.
These purchases also enable Air Link to benefit from incentives and privileges under the Special Economic Zones Act of 2012.
According to Topline Pakistan Research, through this acquisition, the company aims to shift 80% of the mobile production to this new facility to avail income tax benefits for 10 years, while 20% of the production will remain at the old manufacturing facility and will be gradually shifted to the new plant.
Airlink Communication Ltd. is one of the largest manufacturers, distributors, and retailers of smartphones in Pakistan. The company is an official partner of iPhone, Samsung, Huawei, MI, TCL, Alcatel, Tecno, and iTel mobile phones and accessories in Pakistan having a 20-25% market share.
Airlink was incorporated on January 02, 2014, as a private limited company under the repealed Companies Ordinance, 1984 (now Companies Act, 2017) and was converted into a public limited company w.e.f. April 24, 2019.
The company imports, exports distribution, indenting, wholesale, retail communication, and IT-related products and services including cellular mobile/smartphones, tablets, laptop accessories, and allied products.
