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Engro Group Pakistan

Engro Group Pakistan

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Engro is a well known and one of the biggest group of Pakistan.
Engro is a well known and one of the biggest group of Pakistan.

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Published by: Khawaja Naveed Haider on Mar 24, 2010
Copyright:Attribution Non-commercial

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06/08/2014

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35
Executive Summary
Engro Chemical Pakistan Limited
 is the second largest producer of Urea fertilizer in Pakistan. The company was incorporated in 1965 and was formerly ExxonChemical Pakistan Limited until 1991, Exxon decided to divest its fertilizer businesson a global basis. The employees of then Exxon Chemical Pakistan Limited, in partnership with leading international and local financial institutions bought outExxon’s 75% equity. This was at the time and perhaps still is the most successfulemployee buy- out in the corporate history of Pakistan. Renamed as Engro ChemicalPakistan Limited, the company has gone from strength to strength, reflected in itsconsistent and enviable financial performance, growth of the core fertilizer businessand successful business diversification into our fields. Its performance & outlook isfollowing the declared vision,
“To be the premier Pakistani enterprise with aglobal reach, passionately pursuing value creation for all stake holders”Engro Chemical Pakistan Limited 
 produced a large quantity of fertilizers such as
Engro Urea, Engro DAP, Engro Zorawar and Engro Zarkhez
and the subsidiariescompany like Engro Vopak Terminal Limited, Engro Polymer & Chemical Limited,Engro Energy Limited and then diverse all the activities to make food products inEngro Foods Limited by the names of 
Olper’s, Olwell HCLF, Olper’s Cream,Tarang
.Engro has never been a company to rest on its laurels. Their employees and culturedrive them to achieve greater success. They look for new and exciting ways to returnvalue to their customers and their shareholders.They said about their employees,” Our employee’s performance can only flourish in asound work environment. That is why Engro is committed to supporting it leadershipculture through systems and policies that foster open communication, maintainemployees and partner privacy, and assure employee’s health and safety. Engro people are some of the best in the best in the world with a shared passion to learn andstretch beyond their limits. It is our people who make Engro a great company and anexciting place to work.”The company shows a good financial performance in every field, the sales of the year 2007 were
Rs.23.2 billion
which is higher than 2006 by 32%. The profit after tax was
3.15 billion
which is a new record of the company and higher by 24% over the 2006 profit of Rs 2.55 billion.Infact Engro Chemical Pakistan Limited is going towards success and making progress day and night. They really do what they said
“Growing with Pride”
 
 
35
Company IntroductionComp
 
any Introduction
Engro Chemical Pakistan Limited
 is the second largest producer of Urea fertilizer in Pakistan. The company was incorporated in 1965 and was formerly ExxonChemical Pakistan Limited until 1991, when Exxon decided to divest their fertilizer  business on a global basis and sold off its equity of 75% shares in our company. TheEmployees of Engro, in partnership with leading international and local financialinstitutions bought out Exxon’s equity and the company was renamed as EngroChemical Pakistan Limited. Engro is a public limited company listed on the Stock Exchanges of Karachi, Lahore and Islamabad.Engro accomplished significant progress not only in its base urea fertilizer business but also in diversification projects. Urea production was increased from an annualcapacity of 270,000 tons in 1991 to 850,000 tons in 2001. Further expansion plans are being developed to debottleneck plant capacity to 1.2 million tons in stages. Inaddition, Engro has over thirty years of experience of fertilizer marketing in Pakistanwith an elaborate dealer network.As part of our growth and diversification plans, we have established a $60 million50:50 Joint Venture company named 
“Engro Vopak Terminal Limited”
in 1995, between Engro and Royal Vopak (formerly Royal Pakhoed), a Netherland basedcompany and one of the foremost terminal operators in the world. This joint venturecompany has built a modern Jetty & Terminal at Port Qasim, Karachi for handling andstorage of bulk liquid chemicals, which was completed in 1997. This is a keyinfrastructure for the development of capital intensive chemical industry in the heavyindustrial zone of Port Qasim, Karachi.Engro has also formed another Joint Venture company with Mitsubishi and AsahiGlass of Japan named 
“Engro Asahi Polymer & Chemicals Ltd.”
 to develop aPolyvinyl Chloride (PVC) resin project at Port Qasim, Karachi, with an initialcapacity of 100,000 tons per year based on imported Vinyl Chloride Monomer. The project has been successfully completed and commenced production in November 1999. The plant production is being marketed both in domestic and export marketunder the brand name SABZ. Engro has 50% equity in this $74 million venture.Construction of Engro’s 100,000 tons p.a. capacity NPK fertilizers plant at PortQasim at a cost of US $10 million was completed in 2001. The plant is in productionand considerably benefiting the country’s agriculture by providing balance nutrition toimprove farm yields. During the year 2004 the product’s generic name of NPK wasreplaced by Zarkhez.In April 2003 Engro acquired 51% intrest in the Automation & Control Division of Innovative (Private) Limited, a Lahore (Pakistan) based company that provides process control industrial solutions in the knowledge based services sector. The joint
 
35venture has been named as 
"Innovative Automation & Engineering (Private)Limited (IAEL)"
.The aquisition was part of Engro’s diversification strategy.Our Seeds business completed four years of operations and during this period, theCompany has made significant progress in developing its own hybrid seeds of maizeand sunflower crops and launched two new maize hybrids of imported origin. All seed products are being marketed under the brand name of Bemisal.Engro has announced plans to set up a milk processing facility to produce and market branded UHT milk, cream and other milk products. The plant to be located in Sukkur is expected to cost Rs 1 billion and will be completed by March end 2006. All major equipment is on order and civil construction is expected to commence soon. Engro plans to procure raw milk supplies from Sindh and lower Punjab
Growing with PrideGrowing with Pride

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