Engro Corporation
Encyclopedia
Engro Corporation is one of the leading Pakistani business conglomerates with stakes in the fertilizer, food, power generation, petrochemicals, automation and terminal storage industries. Having had undergone an employee led buy out in 1992 it has expanded phenomenal in the past two decades.
As a holding company its subsidiaries include:
Pakistan
. Esso proposed the establishment of a urea plant in that area which led to a fertilizer plant agreement signed in 1964. In the subsequent year, Esso Pakistan Fertilizer Company Limited was incorporated, with 75% of the shares owned by Esso and 25% by the general public.
The construction of a urea plant commenced at Daharki in 1966 and production began in 1968. At US $43 million with an annual production capacity of 173,000 tons, it was the single largest foreign investment by a multinational corporation in Pakistan at the time.
In 1991, Exxon decided to divest its fertilizer business on a global basis. The employees of Exxon Chemical Pakistan Limited, in partnership with leading international and local financial institutions, bought out Exxon’s 75% equity. This was at the time and perhaps still is the most successful employee buy-out in the corporate history of Pakistan. Renamed as Engro Chemical Pakistan Limited, the Company has gone from strength to strength, reflected in its consistent financial performance, growth of the core fertilizer business, and diversification into other businesses.
, for handling bulk liquid chemical storage at Port Qasim
Karachi
. In that same year Engro Asahi polymer Chemicals limited was established in a result of joint venture between Mitsubishi Corporation
and Asahi for the manufacturing and marketing of PVC resin.
and Wall's Ice Cream
.
Engro also ventured into the power generation business by setting up Engro Energy Limited in 2006, which later on was renamed as "Engro Powergen Limited" in 2008. It was established with the basic aim to play Engro's part to tackle the energy crisis in the country.
In year 2007 Engro Asahi polymer divested its share in joint venture with Mitsubishi and the company renamed as Engro Polymer and Chemicals Limited.
In 2010, keeping in view the immense diversification of Engro Chemical Pakistan Limited, it was decided to rename the company as Engro Corporation as the holding company.
Pakistan
.
Apart from the chairmanship, Asad Umar currently hold the position of CEO & President at Engro Corporation from 2004–present.
& CEO Asad Umar, while others include
As a holding company its subsidiaries include:
- Engro Fertilizers Limited
- Engro Foods Limited
- Engro Eximp Private Limited
- Avanceon Limited
- Engro PowerGen Limited
- Engro Polymers and Chemicals Limited
- Engro Vopak Limited
founding days
It was 1957 when in search for oil by Pak Stanvac, an Esso/Mobil joint venture led to the discovery of the Mari Gas field near DaharkiDaharki
Daharki is a city of Ghotki District in the Sindh province of Pakistan. It is the capital of Daharki Taluka - an administrative subdivision of the district. It is situate about 100 km from Sukkur, and between Mirpur Mathelo and Ubaro....
Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
. Esso proposed the establishment of a urea plant in that area which led to a fertilizer plant agreement signed in 1964. In the subsequent year, Esso Pakistan Fertilizer Company Limited was incorporated, with 75% of the shares owned by Esso and 25% by the general public.
The construction of a urea plant commenced at Daharki in 1966 and production began in 1968. At US $43 million with an annual production capacity of 173,000 tons, it was the single largest foreign investment by a multinational corporation in Pakistan at the time.
Esso to Exxon Limited
In 1978, it was decided to rename the company from Esso Pakistan fertilizer company limited to Exxon Chemical Pakistan Limited.In 1991, Exxon decided to divest its fertilizer business on a global basis. The employees of Exxon Chemical Pakistan Limited, in partnership with leading international and local financial institutions, bought out Exxon’s 75% equity. This was at the time and perhaps still is the most successful employee buy-out in the corporate history of Pakistan. Renamed as Engro Chemical Pakistan Limited, the Company has gone from strength to strength, reflected in its consistent financial performance, growth of the core fertilizer business, and diversification into other businesses.
As Engro Chemicals (further expansions)
It was year 1997 when Engro Chemical Pakistan limited decided to establish Engro Vopak Terminal Limited on 50/50 partnership basis between Engro and Royal Vopack of NetherlandsVopak
Royal Vopak N.V. is a Dutch company that stores and handles various oil and natural gas-related products. The company was created by the merger of Van Ommeren and Pakhoed in 1999. In 2002, the distribution of oil and natural gas related products was split off; a new company Univar was created for...
, for handling bulk liquid chemical storage at Port Qasim
Port Qasim
The Port Muhammad Bin Qasim , also known as Port Qasim, is a seaport in Karachi, Pakistan, on the coastline of the Arabian Sea. It is Pakistan's second busiest port, handling about 35% of the nation's cargo...
Karachi
Karachi
Karachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...
. In that same year Engro Asahi polymer Chemicals limited was established in a result of joint venture between Mitsubishi Corporation
Mitsubishi Corporation
is Japan's largest trading company , a member of the Mitsubishi keiretsu. Mitsubishi Corporation employs over 50,000 people and has seven business segments including finance, banking, energy, machinery, chemicals, food and more....
and Asahi for the manufacturing and marketing of PVC resin.
Recent history
The 21st century for Engro Corporation has thus far proved to be the most successful era in the total life of Engro, from then onwards Engro has only faced success and never looked back, 2003 was the year of the establishment of Engro EXIMP, after which in 2005 Engro decided to diversify their business more by venturing into the food business by establishing Engro Foods Limited, which is now experiencing a great success and competing now with international brands like NestléNestlé
Nestlé S.A. is the world's largest food and nutrition company. Founded and headquartered in Vevey, Switzerland, Nestlé originated in a 1905 merger of the Anglo-Swiss Milk Company, established in 1867 by brothers George Page and Charles Page, and Farine Lactée Henri Nestlé, founded in 1866 by Henri...
and Wall's Ice Cream
Wall's (company)
Wall's is a United Kingdom-originated food brand, covering both meat products and ice cream, owned by Unilever. Founded in London in 1786 by butcher Richard Wall, it was acquired in 1922 by Lever Brothers, which became a part of Unilever in 1930. To avoid summer lay-offs due to the down turn in its...
.
Engro also ventured into the power generation business by setting up Engro Energy Limited in 2006, which later on was renamed as "Engro Powergen Limited" in 2008. It was established with the basic aim to play Engro's part to tackle the energy crisis in the country.
In year 2007 Engro Asahi polymer divested its share in joint venture with Mitsubishi and the company renamed as Engro Polymer and Chemicals Limited.
In 2010, keeping in view the immense diversification of Engro Chemical Pakistan Limited, it was decided to rename the company as Engro Corporation as the holding company.
Organizational Structure
Hussain Dawood holds the seat of the corporation, Mr. Dawood is also the chairman of Dawood GroupDawood Group
The Dawood Group is a Pakistani holding company founded by Ahmed Dawood, tracing its origins back to the early 20th century. The group owns companies ranging from fertilizer, textiles, finance and computers...
Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
.
Apart from the chairmanship, Asad Umar currently hold the position of CEO & President at Engro Corporation from 2004–present.
Board of Directors
Engro's 13-member Board of Directors is responsible for the overall supervision of the company.- Hussain Dawood (Chairman)
- Asad Umar (President)
- Asif Qadir (Director)
- Arshad Nasar (Director)
- Shahzada Dawood (Director)
- Israr Ahmed (Director)
- Shabbir Hashmi (Director)
- Khalid Mansoor (Director)
- Rohail Mohammad (Director)
- Khalid Siraj Subhani (Director)
- Muhammad Aliuddin Ansari (Director)
- Abdul Samad Dawood (Director)
- Saad Raja (Director)
Executive Committee
Committee is headed by PresidentPresident
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
& CEO Asad Umar, while others include
- Mr.Asif Qadir (President & Chief Executive Officer Engro Polymer & Chemicals Limited),
- Khalid Siraj Subhani (President & Chief Executive Officer Engro Fertilizers Limited),
- Bakhtiar Wain (President & Chief Executive Officer Avanceon Limited),
- Khalid Mansoor (President & Chief Executive Officer Engro Powergen Limited),
- Sarfaraz A. Rehman (President & Chief Executive Officer Engro Foods Limited),
- Shaikh Imran-ul-Haque (President & Chief Executive Officer Engro Vopak Terminal Limited),
- Ruhail Mohammed (Group CFO Engro Corporation Limited),
- Tahir Jawaid (Vice President Engro Corporation Limited) and
- Syed Ali Akbar (Vice President Marketing Engro Foods Limited)