Icc Textiles Ltd

ICC Industries Limited ( Formerly ICC Textiles Limited )"the Company" was incorporated in Pakistan on May 25, 1989 as a public limited company (PIC) under the repealed Companies Ordinance, 1984 (Repealed with the enactment of the Companies Act, 2017 on May 30, 2017). The shares of the Company are listed on Pakistan Stock Exchange. The principal activity of the Company is renting out vacant buildings and / or open area of the Company's premises. The registered office of the Company is situated at 242-A, Anand Road, Upper Mall, Lahore and the Company's premises are located at 32-Km Multan Road, Sundar, Lahore. To avail the lucrative incentive policy of the late 1980's for Industrial investment in the Textile sector, our well established business group set up a modern Textile weaving project in 1990 comprising 60 Sulzer shuttleless looms with complete European backup process and to optimize the scale of the project, the capacity was enhanced by adding 40 additional Sulzer dobby looms through company’s self cash flows, without seeking funds from the banks or public money. Further, while going along with the technology and capacity enhancement spirit in the entire textile weaving sector in Pakistan, anticipating huge market potential due to the abolishment of the quota regime in Jan 2005, our management decided to increase the production volume by installing additional 72 state of the art air-jet looms along with complete new back process and ancillary equipment which came into production in March 2005. However, the anticipated positive results could not be achieved, as there was a capacity boom in the entire Asian region, creating a huge fabric glut thus bringing down the prices. The excessive cheap textile exports from China along with huge government subsidies in our competing countries rendered exports from Pakistan unviable.