Hoechst Pakistan to Set Up Subsidiary in UAE

Hoechst Pakistan Limited (PSX: HPL) has announced plans to incorporate a wholly owned foreign subsidiary in the United Arab Emirates (UAE), subject to obtaining all necessary regulatory approvals. The decision was approved by the company’s Board of Directors, as disclosed in a filing to the Pakistan Stock Exchange (PSX). The proposed subsidiary will focus on commercial trading as its primary activity, with import, export, distribution, and warehousing serving as ancillary operations. Hoechst Pakistan Limited, a public limited company incorporated under the repealed Companies Act, 1913 (now the Companies Act, 2017), is engaged in the manufacturing, selling, and trading of pharmaceuticals and related products.