First Treet Manufacturing Modaraba received the Securities and Exchange Commission of Pakistan's no-objection for its proposed merger into Treet Packaging Limited through a scheme of arrangement. The merger still requires shareholder, creditor and court approvals.

Stora Enso and Packages Ltd. completed the joint venture Bulleh Shah Packaging (Private) Limited, in which Stora Enso holds a 35% stake for about USD 39 million cash. The venture supplies packaging and paperboard products in Pakistan.