| Type | Public (KSE[1]) |
|---|---|
| Industry | Fertilizer Food Beverages Chemicals polymer Power Generation Petrochemical |
| Founded | Basic Foundation: 1957 as Esso/Mobil Joint Venture, Company Incorporated 1965 as Esso Pakistan Fertilizer Company Limited |
| Founder(s) | Ahmed Dawood |
| Headquarters | Karachi, Pakistan. |
| Area served | Pakistan |
| Key people | Hussain Dawood Chairman Asad Umar President and CEO |
| Products | Engro Urea Engro DAP Engro Zorawar Engro Zarkhez Zingro Olpers Olwell Tarang Omore Ice Cream Owsum Olfrute SABZ Avanceon Engro Rupiya Certificate |
| Revenue | PKR 30 Billion |
| Net income | PKR 3,957 Million |
| Total assets | US$1.9 Billion PKR 94 Billion |
| Total equity | PKR 27 Billion |
| Employees | 2,093 (December 2009) |
| Parent | Dawood Group |
| Website | http://www.engro.com |
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:
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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 Daharki 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 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.
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 Netherlands, 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.
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 Nestlé 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.
Hussain Dawood holds the seat of the corporation, Mr. Dawood is also the chairman of Dawood Group Pakistan.
Apart from the chairmanship, Asad Umar currently hold the position of CEO & President at Engro Corporation from 2004–present.
Engro's 13-member Board of Directors is responsible for the overall supervision of the company.
Committee is headed by President & CEO Asad Umar, while others include
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