Incorporated in year 1951, four years after the independence of
Pakistan in 1947. Setup by an entrepreneur migrated from India and
was the first steel engineering 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 European & American technical collaboration
and 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 in Badami Bagh, 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 Lakh Pat
industrial zone, for further expansion.
After taken 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 prevailing 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 in Steel Structure manufacturing state of
the art CNC machines for Punching, marking & Shearing of Steel
angles of size upto 150 mm along with copying machine for small
plate punching and iron worker’s were installed in the year
1983. The company was thus able to qualify for manufacturing transmission
towers up to 500 KV. Two Hot dip Galvanizing Plants were also added
to cope up with the increase in production capacity of transmission
towers.
Design office was also setup for in house designing of its 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 to make
it profitable and attractive for privatization. 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 efficiency products such as Machine Tools, Power Looms, Bicycle
were closed down in the year 2002.
In the year 2003, the Corporate Structure of the company was changed,
as 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 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 efficiency in all areas, and reduced
interference in day to day working and decisions. The plan was successful
and the company has turned around, and is not only earning profits,
but also continuously improving its profitability and financial
health. The company share which was selling at below face value
of Rs 10 per share, is now selling at Rs 375/- per share. The shareholders
are being paid cash dividend much higher than bank rates.
Earnings have been utilized for modernizing the operative production
facilities. Two CNC machines for Steel angle Punching, Marking and
shearing upto 200 mm size, steel plate punching, marking up to 32
mm thickness extendable to 40 mm thickness and one Hydraulic Shearing
machine for Angles, Square and Round Bars, Steel Plate, and cup
cutting have been added recently to automize the production facilities,
and increase in capacity. With the installation of these machines,
the annual production of steel structures on single shift basis
is now 30,000 tons.
The other facilities such as Galvanizing, Steel Rolling and Foundry
are under extensive renovation and automation. Foreign Consultants
have been hired to assist us in modernization.
The company is also studying to add new product lines, such as
Electricity Distribution Transformers, Submersible Electric Motors,
High Precision Castings & Forgings, Auto Sectors such as CNG
Buses, Trailors etc. The company is looking for reputable Technology
partners / collaborators in these fields.
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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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