CHANGE OF REGISTERED OFFICE

Registered / Head Office of the Company has been shifted from 6/7, Ganga Ram Trust Building, Shahra-e-Quaid-e-Azam, Lahore to PECO factory premises at Kot Lakhpat Works, Lahore. New mailing address, telephone and fax numbers of our Registered / Head Office are given below:

Mailing Address Pakistan Engineering Co. Ltd.Kot Lakhpat, Lahore
Telophone Nos 042-35880071-73
Fax Nos 042-35120754

CHANGE OF DIRECTORS

Federal Government has appointed Mr. Amir Tariq Zaman and Mr. Mumtaz Ahmed Qureshi, Additional Secretary and Joint Secretary of the Ministry of Production respectively, as directors on the Board of Pakistan Engineering Company Limited in place of Mr. Ghulam Rasool Ahpan and Ms. Nuzhat Fatima of the same ministry. Consequently, Board has elected Mr. Amir Tariq Zaman as Chairman in place of Ghulam Rasoo Ahpan.

December 28, 2011

CHANGE OF MANAGING DIRECTOR

Brig. Balal Ahmed Khan (Retd) Si (M), Managing Director, National Fertilizer Marketing Limited, is transferred and posted as Managing Director, Pakistan Engineering Company Limited (PECO) with immediate effect. He has taken charge of his new assignment with effect from 21.07.2011.

February 19, 2010:

NOTICE OF DIVIDEND

The Board of Directors at their meeting held on February 19, 2010 have resolved the payment of Interim Cash Dividend @ Rs. 5.00 per share i.e. 50% to the shareholders for the half year ended December 31, 2009. The share transfer books of the Company shall remain closed from March 18, 2010 to March 25, 2010 ( both days inclusive ) and the share holders whose names appear in the members register as on the close of business on March 17, 2010 shall qualify for the payment of Interim Cash Dividend.

February 19, 2010:
FINANCIAL RESULTS FOR THE HALF YEAR ENDED DECEMBER 31, 2009

The Board of Directors in their meeting held on February 19, 2010 have approved the following financial results for the half year ended December 31, 2009.

  July-Dec. 2009 Rs.in Million
July-Dec. 2008
Sales 715.312 425.902
Cost of Goods Sold 573.962 22.386
Gross Profit 141.350 71.120
Operating Expenses
Selling & Distb. Expenses 6.178 3.791
Freight & Forwarding Expenses 7.799 4.884
General & Admn Expenses 23.518 16.843
  37.495 25.518
Operating Profit Before Financial Ch 103.855 45.602
Other Charges 0.372 0.349
Financial Charges 10.363 3.650
Operating Profit 93.120 41.603
Other Income 2.198 12.771
Workers Profit Participation Fund 4.656 2.080
Profit Before Tax 90.662 52.294
Taxation 33.459 16.596
Profit After Tax 57.203 35.698
Earning Per Share  (Rs.) 10.05 6.27

October 26,2009:
QUARTERLY ACCOUNTS, JULY SEPT. 2009
The Board of Directors of Pakistan Engineering Comapny Limited in its meeting held on October 26, 2009 approved the following Profit and Loss Accounts for the quarter ended 30.09.2009.

  July Sept 2009 Rs.in Million
July Sept 2008
Sales 180.387 150.893
Gross Profit 48.273 22.386
Operating Expenses 17.672 213.042
Operating Profit 30.601 9.344
Financial Expenses 3.687 2.091
Other Income/(Charges) 1.280 9.886
Profit Before Tax 28.194 17.139
Tax 9.868 0.754
Profit after Tax 18.326 16.385
Earning Per Share(Rs) 3.22 2.88

October 03, 2009:
CHANGE OF CHAIRMAN:
The Board of Director of Pakistan Engineering Company Ltd.in its meeting held on October 03, 2009 has elected Mr.Ghulam Rasool Ahpan, Chairman in place of Major General (R) Zaheer Ahmad Khan.

October 03, 2009:
ANNOUNCEMENT - DIVIDEND
The Board of Directors at its meeting held on October 03, 2009 has recommended the payment of 75% (Rs.7.50 per share)Final Cash Dividend to the shareholders for the year ended June 30, 2009. This is in addition to Interin Cash Dividend of Rs.5.oo per share ( 50% ) making total Rs. 12.50 per share ( 125% ) for the year ended on 30.06.2009.

Share transfer books of the Company will remain closed from October 24,2009 to Novemer 01, 2009 (both days inclusive) in order to update the Register of Members to determine the entitlement of Dividend, Transfers received in order, at the office of our Registrar M/s SCARLET IT Systems (Pvt) Limited, Hassan Plaza, 6-A, Jail Road, Lahore by close of business on October 23, 2009 will be treated in time for the purpose of payment of 75% Final Cash Dividend to the transferees.

September 28, 2009:
CHANGE OF DIRECTOR:
Government of Pakistan has ceased the directorship of Major General ( R ) Zaheer Ahmad Khan(Chairman State Engineering Corporation) W.e.f; September 24, 2009 and has appointed Mr.Ghulam Rasool Ahpan as director on the Board of Pakistan Engineering Company Limited.


Incorporated in year 1951, four years after the independence of Pakistan in 1947. Setup by an entrepreneur migrated from India and was the pioneer light engineering products company listed on the stock exchanges of the country in the name of Batala Engineering Company (BECO). Within a period of fifteen years it became leader in light engineering goods manufacturing with the help of European & American technology and their team of engineers to produce High Quality Machine Tools, Pumps, Power Looms, Concrete Mixers, Cranes, Power Presses, Electric Motors, Bicycles, Steel Rolled Products, Electricity Transmission Towers, Structure and General Fabrication.

The industry was set up at Badami Bagh, old city of Lahore on land area of 34 acres, and whole adjacent area was subsequently converted into steel center of Pakistan. Due to rapid addition of products, the land area became in-sufficient for further expansion. In the same city of Lahore 247 acres land was acquired in 1960 at Kot Lakhpat industrial zone, for further expansion.

After take over by the Government in the year 1972 under the economic reforms, it was renamed as Pakistan Engineering Company (PECO). The areas focused after take over were Steel Making where three Electric Are Furnaces of 10 tons each, Steel Rolling Mills to roll bigger size steel angles were added in line with future trends. Modern laboratory for Mechanical, Chemicals, Non-Destructive Tests etc. equipped with Universal Tensile Testing, Hardness Brielle & Rockwell, 32 Channels Direct Emission Spectrometer for analysis of Ferrous and Non-Ferrous base metals, LESCO Carbon & Sulphur Determination, Metallographic, Ultrasonic Flaw Detector, Magnetic Particle Separator was also setup.

For better precision, state of the art CNC machines for Punching, Marking & Shearing of Steel angles of size upto 200 mm along with CNC machine for plate punching up to thickness of 40 mm and Hydraulic plate punching, shearing of Billet, Bars of different shapes, steel angles of various sizes, cup cutting were also installed in the years 1983 and 2007. The company is qualified for manufacturing electricity transmission towers up to 500 KV. Three Hot dip Galvanizing Plants are installed to cope up with the increase in production capacity of transmission towers. The annual production of steel structures on single shift basis is now 30,000 tons.

Design office was also setup for in house designing of its regular products and special jobs. The design office is equipped with latest computer aided design and drafting facilities. Highly experienced design engineers in relevant field are available for continuous improvement in designing. Arrangements with reputable international design organizations are available for economical and latest technology based designing.

The Government considered various plans for its revival and it was decided in the year 2002 to re structure the company. Under the approved plan, all machines, equipment, steel sheds were shifted from old Badami Bagh Works to Kot Lakhpat Works to consolidate at one place, where ample space of 150 acres is still available for further expansion. Products of obsolete technology, obsolete machines / equipment, low technology products such as Machine Tools, Power Looms, Bicycle were closed down.

In the year 2003, the Corporate Structure of the company was changed. Some portion of the Government shares was off loaded through stock exchanges to have a Private – Public partnership in order to manage the company operations in more efficient manner. Thus private shareholding increased to 67% and Government Share holding 33%. The private share holders elected directors therefore got effective role, which has resulted in improving efficiency in all areas. The company has turned around, and is not only earning profits, but also continuously improving its profitability and financial health. The shareholders are being paid cash dividend much higher than bank rates. The market price of its share is now highest in the engineering sector companies in Pakistan.

The Foundry is also available in house to produce castings of Pumps, Electric Motors and Machine Tools. It is in the process of up gradation to cater for high quality castings for Tractors and Auto Sector.

The Company is also producing Electric Motors for our own use and market. The technology is of NEUMANN U.K. The types and range of Motors is as below:-

Drip Proof Squirrel Cage, 3 Phase 400 V 1-75 HP, 1000, 1500 & 3000 RPM
Totally Enclosed, Fan Cooled, Squirrel Cage, 3 Phase, 400 V 1 – 50 HP, 1000, 1500 & 3000 RPM
Drip proof, Vertical Hollow Shaft, Squirrel Cage, 3 Phase, 400 V 10-150 HP, 1500 & 3000 RPM
Totally Enclosed, Fan Cooled,Squirrel Cage, Vertical Hollow Shaft, 3 Phase, 400 V 10,15,20,80 & 150 HP 1500, 720 & 960 RPM
Naturally Cooled, Squirrel Cage, 3 Phase, 400 V 1 – 2 HP
Submersible Motors Type 1218 A/2, 3 Phase, 400 V 15 – 50 HP

All components of Electric Motors are manufactured in house.

The Company is manufacturing Pumps for use in Agriculture, Water supply, Drainage, De-watering, Sugar Industry etc. The Technology was acquired from M/s Jaccuzi, U.S.A. The type and range of Pumps being produced are:-

Centrifugal Pumps:  
For Heads: 20 to 300 Ft
Capacity Range: 100 to 1625 IGPM
Submersible Pumps:  
For Well Dia: 8  to  12 Inches
Capacity Range: 60 to   1200 IGPM
Deep Well Turbine Pumps:  
For Well Dia: 6 to 16 Inches
Capacity Range: 15 to 700 CU M/H
Non Clogging Pumps:  
For Heads: 6 to 98 Metres
Capacity Range: 20 - 1000 Cubic Metres

All castings and components of Pumps are manufactured In house.

The facilities such as Galvanizing, Steel Rolling and Foundry are under extensive renovation and automation. Foreign Consultants have been hired to assist in modernization plans of the Company.

PRODUCTION FACILITIES:
Company has the following in house production facilities:
MECHANICAL:
  • Fabrication
  • Turning
  • Milling
  • Drilling
  • Boring
  • Press Work
  • Flame Cutting
  • Grinding
  • Welding
  • Broaching
  • METALLURGICAL:
  • Cast Iron Casting
  • Pressure Die Casing
  • Non Ferrous Castings
  • Steel Re Rolling
  • SURFACE FINISHING:
  • Galvanizing
  • Electroplating
  • Enameling
  • Phosphating
  • Heat Treatment
  • Soldering/Brazing
  • TESTING FACILITIES:
    MECHANICAL TESTING:
  • Universal Tensile, Bend & Compression Testing
  • Brinell & Rockwell Hardness Testing
  • Charpy Impact
  • CHEMICAL TESTING:
  • Analysis of ferrous & non ferrous base metals on direct emission spectrometer.
  • LECO carbon & sulpher determination
  • Chemical analysis through wet analysis
  • Metallography
  • NON DESTRUCTIVE TESTING:
  • Ultrasonic Flaw Detector
  • MACHINES INSTALLED:
    List of major machines installed at different shops of the Company are given hereunder:
  • CNC
  • Plate Profile Punching Machines
  • Iron Workers
  • Angle Shearing Machines
  • Plate Shearing Machines
  • Mechanical Presses
  • Drill Machines
  • Profile Gas Cutting Machines
  • Hydraulic Bending Machines
  • Brake Presses
  • Hole Punching Line (FICIP)
  • Galvanizing Plants
  • Milling Machines
  • Facing Units
  • Vertical Boring Machines
  • Shaping Machines
  • Key Way Seater – Vertical
  • Slotting Machines
  • Cylindrical Grinding Machines
  • Turret Lathes
  • Centre Lathes
  • Radial Drill Machines
  • Multiple Drill Machines
  • Pressure Testing Machines
  • Balancing Machines
  • Hacksaw Machines
  • Shaft Straightening Machines
  • Tube Expanding Machines
  • Tool Grinding Machines
  • Rotor Balancing Machines
  • Bore Check Machines
  • Horizontal Grinding Machines
  • Alluminium Melting Furnaces
  • Gulotine Machines
  • Engraving Machines
  • Die Casting Machines
  • Pre Heating Furnaces
  • Annealing & Blowing Plant
  • Notching Machines
  • Moulding Machines
  • Cupola Furnaces
  • Short Blasting Machines
  • Shake out Machines
  • Sand Blasters
  • Pattern Machines
  • Steel Re rolling Mills
  • High Frequency Induction Furnaces
  • Crucible Furnaces
  • Green Sand Preparation Plants
  • Mechanized Moulding Lines
  • With clients both locally and internationally, we are proud that our services that makes us stand out from the rest in competition, choosing us will ensure long after sales support.
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