Key Takeaways
- Sazgar Engineering Works Limited acquired 26.7 kanals of land for Rs. 867.75 million.
- The land purchase is adjacent to the company’s Three Wheelers Unit in Lahore.
- The move aims to meet the company’s future business requirements.
Sazgar Engineering Works Limited has expanded its land holdings by purchasing 26.7 kanals of land on Main Raiwind Road in Lahore for Rs. 867.75 million, excluding incidental taxes and expenses.
The company disclosed the acquisition to the Pakistan Stock Exchange, stating that the land is located adjacent to its Three Wheelers Unit.
Sazgar Engineering’s move is in line with its strategic plans to meet future business requirements, as the company manufactures and sells three-wheelers, four-wheel passenger and off-road vehicles, and automotive parts.
The purchase was made in accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Regulations, ensuring compliance with regulatory requirements.
Sazgar Engineering, established in 1991 and listed on the Pakistan Stock Exchange since 1994, has a diverse product portfolio including vehicles under partnerships with GWM and BAIC.
The company’s acquisition of the additional land is expected to support its expansion plans and enhance its operational capabilities.
Sazgar Engineering has requested the exchange to inform relevant TRE certificate holders about the acquisition, ensuring transparency and compliance with regulatory standards.
