International Industries Establishes Subsidiary in Ireland

International Industries Limited (IIL), a major Pakistani manufacturer and exporter of steel and polymer pipes, has announced the establishment of a new, fully-owned subsidiary in Ireland named INIL Europe Limited.

The steel exporter, which is publicly listed, communicated this development to the Pakistan Stock Exchange (PSX) through a formal notification on Wednesday.

The notice stated, “IIL is embarking on a fresh venture in Europe with the creation of a wholly-owned subsidiary, ‘INIL Europe Limited,’ located in Ireland. The primary intention is to broaden its international footprint by engaging in product trade within Ireland and other nations of the European Union.”

The company affirmed its dedication to the continued expansion of its domestic and export business lines, alongside identifying potential avenues for new revenue streams.

“The company is actively assessing various prospective ventures, formulating plans to introduce innovative products, and aiming for promising new markets. Building on this approach, IIL has previously formed subsidiaries, including IIL Australia Pty Ltd. in Australia, IIL Americas Inc. in Canada, and IIL Trading (Pvt) Ltd. in Pakistan.”

Over the last half-decade, IIL’s export revenue has exceeded $150 million, with products distributed to over 60 countries across diverse regions such as Australia, North America, Europe, Africa, the Middle East, and South Asia.

The organization anticipates that its latest European branch will be instrumental in unlocking new markets for IIL products and elevating the “Pakistan” brand across Europe.

It further noted, “This initiative will also support the nation’s economic advancement by generating foreign exchange, bolstering both IIL’s and the country’s long-term viability. The company is optimistic about capitalizing on its brand value and reputation to secure a profitable position in the European market.”

IIL, initially established in Pakistan in 1948, stands as the nation’s foremost producer of steel and polymer pipes, boasting an 817,000-ton annual production capability and yearly revenue reaching Rs37.8 billion.

The company possesses an equity of Rs14.5 billion and has been recognized among Pakistan’s Top 25 Companies for the past 14 years.