Board of directors meeting of Globe Textile Mills (OE) Limited

Karachi, Globe Textile Mills (OE) Limited informed Pakistan Stock Exchange that board of directors meeting of the company held on October 17, 2016. The agenda of the meeting was unfavorable market conditions in spinning sector during the period of more than 2 years and shortage of working capital and extreme monetary crunch due to unfavorable selling price.

Globe Textile Mills (OE) Limited was incorporated in 1980 and is listed in Pakistan Stock Exchange in Pakistan.

Since 1982. The Industrial Unit consisting of 2,800 Rotors with complete back process, Murata winders and Two for one doubling machine, is situated at Kotri (Sindh). The management changed and upgraded Manufacturing facilities from time to time as per market situation and demand. At the moment Unit Consists of 6 frames of SE 9 Autocoro consisting 1440 Rotors and 3 mg watt self generation power plant.

The quality of yarn manufactured is the best among the Open end units in Pakistan . The yarn produced by the Mills is being rated very high in the international as well as local markets. Company is registered as a public limited company out of few open end textile units. Company manufactures cotton yarn as well as polyester/ cotton yarn from 6/s to 16/s soft as well as hard.

The symbol “GOEM” is being used by the stock exchange for the shares of Globe Textile Mills (OE) Limited.