Unity Foods is planning to expand its existing capacity via acquisition of an existing operational refinery with a capacity of 500,000 metric tons per year.
The management of the company plans to make the required improvements in the plant to bring it to state-of-the-art standards with the capability to produce specialty fats.
The notification to the Pakistan Stock Exchange read,
We are pleased to announce that in pursuance of its commitment to expand the business of the Company, the management has decided to seek the expansion of its oil refining capacity. The current oil refining capacity of the company comprises its oil refinery located in SITE Karachi, which has a capacity to refine 150,000 metric ton per year of edible oil.
Unity’s script at the stock exchange closed at Rs 43.50, up by Rs 1.27 with a turnover of 10.49 million shares.
As part of its expansion plan, the company has recently announced its plans to launch an edible oil brand called ‘Dastak’.
The company is in the process of establishing its distributor/dealers network across the country and expects to start its retail sale by September 2018.
Unity Foods Ltd. is currently processing Soft Oils such as Soybean, Canola, Sunflower, rapeseed oils & Palm oils to further refine the same in its close knitted integrated value chain of raw material treated in state-of-the-art plant facilities. It is also engaged in providing special and industrial fats such as chocolate fats, Confectionery fat and bakery fats with Culinary and Functional Oil Fats.
It also specializes in providing some finest quality protein supplement to add to the vibrant poultry and livestock enriched feed.