Cherat Cement Moves To Acquire 30% Stake In Nimir Industrial Chemicals.
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Cherat Cement Company Limited (CCCL) has officially moved to diversify its industrial footprint by submitting a Public Announcement of Intention (PAI) to acquire at least a 30% stake (equivalent to 33,177,164 ordinary shares) in Nimir Industrial Chemicals Limited (NICL). Appointing KTrade Securities Limited as the Manager to the Offer, Cherat Cement filed the formal notice under the Securities Act, 2015 and the Takeover Regulations. The proposed acquisition from majority shareholders marks a major strategic diversification move for the cement manufacturer into Pakistan's chemical sector. The planned transaction comes as NICL demonstrates strong financial performance, posting a net profit of Rs2.39 billion for FY2026 on net sales of Rs48.291 billion. Furthermore, NICL is advancing a Rs3 billion capital expenditure program encompassing three major operational expansions, including scaling up its Chlorinated Paraffin Wax (CPW) and chlorine liquefaction facilities, alongside establishing a new Palmitic Acid plant.
Cherat Cement Company Limited (CCCL) has expressed its intention to acquire at least a 30% stake in Nimir Industrial Chemicals Limited (NICL), marking a potential expansion of its business interests beyond the cement sector.
The proposed transaction involves the acquisition of at least 33,177,164 ordinary shares of NICL from majority shareholders, a listed company operating in Pakistan’s chemical industry. Cherat Cement’s move comes as the company continues to pursue opportunities for diversification and strategic investments.
NICL is engaged in the manufacturing and marketing of chemicals used across a range of industrial applications. Its operations give Cherat Cement an opportunity to gain exposure to a different segment of Pakistan’s industrial economy.
The development follows Cherat Cement’s recent investment activity outside its core cement operations. In July, the company increased its holding in Cherat Packaging Limited to 12.70% after acquiring an additional 2.63 million shares.
Cherat Cement has also been pursuing broader strategic initiatives, including investments and expansion plans aimed at strengthening its position across related industrial businesses. The company is part of the Ghulam Faruque Group (GFG), which has interests in manufacturing and other sectors.
The proposed NICL acquisition remains subject to due diligence, finalisation of commercial terms, and requisite regulatory and corporate approvals. Cherat Cement’s board met on September 10, 2026, to approve the submission of the Public Announcement of Intention through KTrade Securities Limited, which is acting as the Manager to the Offer.
If completed, the transaction would give Cherat Cement a significant position in NICL and further broaden its investment portfolio beyond its traditional cement manufacturing business.
