Agreem­ent signed with Austra­lian firm for procur­ement of plantKARACHI: Loads Limited, an auto parts maker, announced on Thursday that its wholly owned subsidiary has signed an agreement with an Australian firm to purchase an alloy wheels manufacturing plant. Government negligent towards local motorcycle manufacturersThe notice also said that alloy wheels are not currently produced in Pakistan and are being imported by car assemblers for their high-end vehicles. Loads, one of the leading auto parts makers in Pakistan, got listed at the PSX in September 2016 and eventually raised Rs1.7 billion, an amount the company is now using for expansion of its production capacity. Big names like Renault, Kia, Hyundai and Volkswagen have recently announced their intention to assemble vehicles in Pakistan. Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

Source: The Express Tribune December 15, 2017 04:41 UTC