Sapphire Fibres Limited has established a wholly owned subsidiary in the United Arab Emirates as part of its strategy to expand its international business footprint. The company has completed all legal and regulatory formalities for the incorporation of the new entity.
In a disclosure to the Pakistan Stock Exchange, the company said the subsidiary has been incorporated under the name Saphir Holding L.L.C FZ in the UAE.
Sapphire Fibres is also in the process of remitting an initial equity investment of $200,000 to the newly established company.
The company said the establishment of the subsidiary is part of its broader strategy to explore international business opportunities and expand its global presence.
Sapphire Fibres Limited, one of Pakistan’s leading textile manufacturers and a flagship company of the Sapphire Group, produces polyester staple fiber and other synthetic fiber products for domestic and international markets.
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