Imperial Chemical Industries and Unibrands to market Morinaga nutrition products

Karachi, May 26, 2014 (PPI-OT): ICI Pakistan and Unibrands Pvt. Limited executed agreements at a ceremony, to formalise their earlier communicated intent to market and distribute Morinaga infant milk formulae and nutrition products from Morinaga Milk Industry Co. Limited Japan, through a newly formed company, Nutrico Pakistan Pvt. Limited.

The Board of Directors of ICI Pakistan has approved an equity investment of PKR 960 million which will result in a 40% shareholding by ICI Pakistan in Nutrico. This investment will in due course, enable the shareholders of Nutrico Pakistan Pvt. Limited, to assess the setting up of a local manufacturing facility to produce Morinaga infant milk formulae and nutrition products.

The infant milk formulae and nutrition segment has immense growth potential in Pakistan, making it a highly attractive opportunity to pursue. This investment by ICI Pakistan is in line with its strategic intent to strengthen its existing business whilst seeking to grow its footprint through diversification into businesses that cater to the growing consumer base in Pakistan.

For more information, contact:
Abdul Ghani
CSR Coordinator and
Public Relations Manager
ICI Pakistan Limited
ICI House, 5 West Wharf, PO Box 4731
Karachi 74000
Tell: +92-21-32318148, +92-21-32314646
Mobile: +92-300-8238751
Email: abdul.ghani@ici.com.pk

The post Imperial Chemical Industries and Unibrands to market Morinaga nutrition products appeared first on Business News Pakistan.