Feroze 1888 Mills, Feroze Textiles Industries align to form single entity
Home Textiles Today Staff -- Home Textiles Today, 12/21/2011 1:53:56 PM
Karachi, Pakistan - Now that it has completed its acquisition of management of Nakshbandi Industries Limited and changed the name to Feroze 1888 Mills Ltd., Feroze Textiles Industries and Feroze1888 Mills are now merging the two companies.
This comes upon the approval of the High Court, which is expected shortly, the company added.
Combined, the new entity is expected to position Feroze1888 as the largest terry mill in Pakistan.
"The new platform will help ensure compliance with best practices in all areas of operations and management which will improve entrepreneurship skills bringing prosperity and sustainability to the merged entity," said Khaleeq Rehman, ceo, Feroze.
Established in 1971 and 1972, respectively, Feroze Textiles and Feroze1888 Mills (formally Nakshbandi Industries) both started as small terry operations and eventually grew to become among the country's largest. The acquisition of management of Nakshbandi Industries Limited occurred between 2008 and 2009, followed by the company's name change to Feroze1888 Mills Limited in 2010.
The now-merger of the companies will allow Feroze1888 Mills to streamline production, lower operating overheads, and position itself as the premier towel facility in Pakistan.
"This merger shall benefit all the stake holders associated with the company and will provide more focused attention to customer needs. Our quality of talent is proven in the past and after the merger it will be further reinforced that they have the capability to handle any challenge and to meet the expectations of all customers," said Rehan Rahman, ceo, Feroze1888.
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