Cherat Packaging Receives Payment for Sale of Papersack Production Line

Cherat Packaging Limited (PSX: CPPL) Tuesday announced the successful completion of the sale of its Papersack Production Line IV.  In a notice to the Pakistan Stock Exchange (PSX), the company said that the transaction has been completed and the company has received $638,000 in sales proceeds.  This marks the successful conclusion of sales of company’s papersack production lines. The company will continue to serve the cement industry by supplying high-quality polypropylene bags and is actively working towards establishing a new SOS/Carrier bag business as well as expanding its existing Flexible Packaging operations, the notice added.  CPPL’s main business activities are manufacturing, marketing and sale of paper sacks, polypropylene bags and flexible packaging material.