LAHORE: Treet Corporation Limited, a PSX listed company, held a corporate briefing for its Daewoo brand battery project, being completed at the Faisalabad Industrial Estate located on the M-3 Motorway Industrial City.
Battery Project COO Ali Aslam briefed the participating equity market analysts, local and foreign institutional investors and media representatives about the progress of the plant as well as its impact on revolutionising the battery manufacturing industry in Pakistan.
Treet Group CFO Amir Zia highlighted the potential impact of the battery project on the company’s business along with financing arrangements made by the company.
“The battery business will be part of Treet’s tax-efficient manufacturing vehicle – First Treet Manufacturing Modaraba,” he said.
The plant’s manufacturing facilities are almost complete and the plant will start trial production from October onwards. Subsequent to results of the trial production, the plant is expected to start regular production in second half of the current financial year.
“The plant, a state-of-the-art manufacturing facility spread over 40 acres, is the result of Rs6 billion investment from Treet Corporation,” Zia said, adding Treet would manufacture maintenance-free and deep-cycle batteries under the brand name of Daewoo in Pakistan. “These batteries are easy to install, require no filling and have a longer operating life than the standard fillable batteries,” he said.
Currently, all battery manufacturers in Pakistan produce conventional batteries, which require regular maintenance.
The manufacturing facility has achieved about 2.5 million safe man hours so far.
Published in The Express Tribune, September 21st, 2017.