1961
Ismail Cement Industries Limited was incorporated in Pakistan on December 29, 1960 as a Public Limited Company with Authorised Capital of Rs.50,000,000. Mr.Naseer A. Shaikh was the first chairman of the company. Registered was situated at Gardee Charity Trust Building No.2, Napier Road, Lahore and plant site was at Imailwal,Pind Dadan Khan-Jhelum.
1962
During the year, 320,000 'A' Class Ordinary shares were called and paid.Its shares were quoted on Karachi Stock Exchange.
The Company appointed M/s Henry Pooley,London as their consulting Engineers and placed orders for the main cement plant (wet process) and machinery with Societe Fives Lille-Cail,Paris.The contract for the construction of the factory buildings and foundations was awrded to M/s Gammon (Pakistan) Limited and housing colony was completed by petty contractors.Initially two kilns were installed for clinker production carrying yearly capacity of 360,000 M.Tons based on 300 days.
1963
Financing from International Fianace Corporation & Pakistan Industrial Credit and Investment Corporation extended to $3,038,325 and $2,278,744 respectively.
1965
In the first year of commercial production, the Company earned a net profit of Rs. 6,595,337 (excluding depreciation).
1966
Company announced its first dividend @ 6%.
1969
Third kiln commoissioned on trial basis on September 15, 1968 which increased the production capacity to 540,000 M.tons.
1970
Last year of eight years of tax holiday expied.
1972
Name changed to "GHARIBWAL CEMENT LIMITED" Management of the Company was taken overby tha Central Government on January 3, 1972 under the Economic Reforms Order(presidential Order No.1) of 1972.
1975
Campany gave its cement brand name "PAIDAR".
1978
Company announced dividend @ 20% to its shareholders..
1981
Company announced its highest dividend @ 22.50% to its shareholders..
1983
Cement production was 566,526 M.Tons, highest in the history of Company.
1985
Cement production was 582,427 M.Tons, highest in the history of Company |
