Emmanuel Katongole, the Chairman and Co-Founder of Quality Chemical Industries Limited, issued a notice on February 22nd regarding a significant change. The announcement, made in accordance with Rule 36(2) of the Uganda Securities Exchange Listing Rules 2021, detailed the renaming of the company.
“Quality Chemical Industries Limited wishes to inform its shareholders and the public about its decision to change its name from Cipla Quality Chemical Industries Limited to Quality Chemical Industries Limited (Qcil), effective from the 15th of February 2024,” stated Katongole.
The decision to change the name follows an action taken by Cipla India, which opted to divest its stake in Cipla Quality Chemicals Ltd. The stake was sold to a Mauritius-based firm, Africa Capitalworks.
The rebranding signifies a strategic shift for the company, reflecting its evolving identity and objectives. Quality Chemical Industries Limited, now known as Qcil, aims to continue its operations under the new name while upholding its commitment to excellence and innovation in the pharmaceutical sector.
The renaming process entails more than just a change in title; it represents a redefined vision and renewed dedication to serving customers and stakeholders with the highest standards of quality and integrity.
As Quality Chemical Industries Limited transitions to its new identity as Qcil, it reaffirms its position as a leading player in the pharmaceutical industry, both locally and internationally. The company remains focused on delivering life-saving medicines and contributing to the improvement of healthcare systems in Uganda and beyond.
This transformation marks a milestone in the company’s journey, reflecting its resilience and adaptability in a dynamic business landscape. Quality Chemical Industries Limited, now Qcil, looks forward to continuing its growth trajectory and making a positive impact in the pharmaceutical sector.
With the support of its shareholders, partners, and dedicated workforce, Qcil is poised to embrace new opportunities and overcome challenges as it charts a course towards sustainable success and enduring relevance in the global pharmaceutical market.
