Avanceon Limited (AVN), a Pakistani technology company headquartered in Lahore, announced on Thursday that its wholly owned subsidiary, Avanceon FZE, had registered a new entity in Australia named Avanceon PTY LTD.

The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) today.

“The new entity has been registered in Queensland under the Australian Securities and Investments Commission in accordance with the Corporations Act 2001,” AVN said.

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It said that the company’s footprint in the Asia Pacific Region paves a pathway for a positive impact on the group’s business and for maximising value for its shareholders.

“Through Avanceon PTY LTD, the company aims to leverage its global experience and proven expertise in automation, digitalisation, and industrial technology to support customers across multiple sectors.

“The new entity will focus on delivering innovative solutions in IT and technical services, oil and gas, transport and infrastructure, construction, manufacturing, mining, and environmental services,” it added.

AVN was incorporated in Pakistan on 26 March 2003 as a private limited company, which was converted to a public company on 31 March 2008 under the repealed Companies Ordinance, 1984.

The principal activity of the company is to trade in automation and control equipment and to provide related technical services.