Ceylon Finance Today: Acme Printing and Packaging PLC announced a 1:1 rights issue at an exercise price of Rs 12 per share. The Extraordinary General Meeting for approval of the Rights Issue will be held on 14 October 2014.
"The emerging supermarket culture in Sri Lanka has triggered a growing demand for hygienically and conveniently packed goods in different forms, which offers Acme a significant opportunity for growth and expansion. In order to cater to the growing needs of its customer base, the proceeds from the rights issue will be utilized to modernize equipment at the factory and to restructure the company while strengthening the working capital base of the company," the company said in a statement.
As a first step, the company recently installed a state-of-the-art laminator to further improve its product performance/quality at its new plant in Pannala.
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Acme's flexible packaging solutions and products are used by some of the premier FMCG (Fast Moving Consumer Goods) companies in Sri Lanka including multinationals such as Unilever, GSK and Fonterra as well as other large indigenous companies such as Ceylon Biscuits Ltd., Maliban and Dilmah.
In addition, Acme currently caters to a large clientele in the food, beverage, confectionery, dairy, pharmaceuticals, household care, agro-chemicals and tobacco industries.
In addition, Acme currently caters to a large clientele in the food, beverage, confectionery, dairy, pharmaceuticals, household care, agro-chemicals and tobacco industries.
"The emerging supermarket culture in Sri Lanka has triggered a growing demand for hygienically and conveniently packed goods in different forms, which offers Acme a significant opportunity for growth and expansion. In order to cater to the growing needs of its customer base, the proceeds from the rights issue will be utilized to modernize equipment at the factory and to restructure the company while strengthening the working capital base of the company," the company said in a statement.
As a first step, the company recently installed a state-of-the-art laminator to further improve its product performance/quality at its new plant in Pannala.
www.ceylontoday.lk
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