As the nation’s first fertilizer brand, Engro (then Esso) helped modernize As part of an international name change program, Esso became Exxon in and . Get this from a library! From Exxon to Engro. [Shaukat Raza Mirza] — On the buy- out of Exxon Chemical Pakistan Ltd. highlighting the endeavours and. From Exxon to Engro by Shaukat Raza Mirza, , Oxford University Press edition, in English.
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Esso proposed the establishment of a urea plant in that area which led to a fertilizer plant agreement signed in The construction of a urea plant commenced at Daharki in and production began in A full-fledged marketing organization was established which undertook agronomic programs to educate the farmers of Pakistan.
As part of an international name change program, Esso became Exxon in and the Company was renamed Exxon Chemical Pakistan Limited. The Company continued to prosper as it relentlessly pursued productivity engto and strived to attain professional excellence. InExxon decided to divest its fertilizer business on a global basis.
This was at the time and perhaps still is the most successful employee sngro 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, ffrom diversification into other businesses. Along the way, a major milestone in plant capacity upgrade coincided with the employee led buy-out; innovatively optimizing our resources, Engro relocated fertilizer manufacturing plants from the UK and US to its Daharki plant site — an international first.
Soon thereafter, the Company started a journey of venturing into other sectors including foods, energy, industrial control and automation, PVC resin manufacturing and marketing, and chemical terminal and storage. Engro Engdo Pakistan Limited then started a journey of venturing into other sectors including foods, energy, industrial control and automation, PVC resin manufacturing and marketing, and chemical terminal and storage. Engo plans were announced of demerging tp fertilizer business into an independent operating company.
The expansion and growth in the company necessitated a change in the way the company operated and conducted business. Keeping in view the operations of multi category businesses, expansion strategy and growth vision, the management decided that the various businesses would be better served if the Company was converted to a holding company. As a result it was decided to demerge the fertilizer business and establish a holding company structure to manage the affairs of various businesses.
From EXXON to Engro by Shaukat Raza Mirza
Engro Crom Limited was incorporated in June to rxxon the fertilizer business post demerger. The demerger required the approval of the High Court of Sindh, which was granted on December 9, after obtaining the requisite approvals from the creditors and shareholders of the Company.
The demerger became effective from January 1, Consequently, all fertilizer business assets and liabilities have been transferred to Engro Fertilizers Limited against the issue of shares to the Company.
Engro Corp, as the holding company is responsible for the long term vision of the company, overseeing the performance of the subsidiaries and affiliates, allocation of capital, management of talent, leadership development, HR guiding policies, leadership role in public relations and CSR activities, control structures, legal and IT support. Engro Corp will maintain a lean structure with a focused scope, allowing maximum empowerment to the subsidiaries and affiliates to drive the operations of their respective organizations.