Misplaced Pages

Maple Leaf Cement

Article snapshot taken from Wikipedia with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.
Pakistani building materials company
Maple Leaf Cement
Company typePublic
Traded asPSX: MLCF
KSE 100 component
KSE 30 component
IndustryCement
Founded1956; 69 years ago (1956)
HeadquartersLahore, Pakistan
Key peopleSayeed Tariq Saigol (CEO)
Tariq Sayeed Saigol (chairman)
RevenueIncrease Rs. 62.075 billion (US$210 million) (2023)
Operating incomeIncrease Rs. 13.074 billion (US$45 million) (2023)
Net incomeIncrease Rs. 5.770 billion (US$20 million) (2023)
Total assetsIncrease Rs. 89.707 billion (US$310 million) (2023)
Total equityIncrease Rs. 44.913 billion (US$160 million) (2023)
OwnerKohinoor Textile Mills (56.50%)
ParentKohinoor Textile Mills
SubsidiariesMaple Leaf Power Limited
Maple Leaf Industries Limited
Websitewww.kmlg.com/mlcfl/profile
Footnotes / references
Financials as of 30 June 2023

Maple Leaf Cement is a Pakistani cement manufacturer based in Lahore. It is the fifth-largest cement manufacturer in Pakistan after Lucky Cement, Bestway Cement, Fauji Cement, and DG Cement.

History

Maple Leaf Cement was founded in 1956 by the West Pakistan Industrial Development Corporation in a collaboration with the Government of Canada. The initial production capacity was 120,000 tons per annum (tpa) of ordinary Portland cement, which increased by an additional 180,000 tpa in 1960.

In 1967, White Cement Industries Limited was founded at the same location which was the first white cement manufacturing plant in Pakistan. Initially, it had a capacity of 15,000 tpa which was later expanded to 30,000 tpa.

In 1974, under the West Pakistan Industrial Development Corporation Ordinance of 1974, Maple Leaf Cement and White Cement Industries were merged into the State Cement Corporation of Pakistan, a holding company established by the Government of Pakistan to manage nationalized cement companies.

In 1983, Pak Cement Company Limited was established at the same site with a clinker production capacity of 180,000 tons under a technical and economic assistance program with National Complete Plant Export Corporation of China.

In January 1992, Maple Leaf Cement was acquired for Rs 486 million by Nishat Mills under the privatization scheme of the Government of Pakistan. Later, it was transferred to Saigol Group in a swap scheme in which Nishat Group acquired DG Cement from Saigol Group. Saigol family also acquired Pak Cement and White Cement Industries during the privatization scheme which were merged into Maple Leaf Cement Factory Limited on July 1, 1992.

In April 1994, Maple Leaf Cement began a project to expand its cement production capacity of annual grey portland cement from 0.6 million tons to 1.6 million tons. The project had a total cost of US$160.8 million. The International Finance Corporation (IFC) contributed US$45.2 million in financing to the project, which was part of a larger US$160 million investment program. The financing provided by the IFC consisted of a US$5.2 million equity investment, a US$30 million loan for IFC's own account, and an additional US$10 million loan. The remaining financing was raised by listing the company on the Karachi Stock Exchange on August 17, 1994. The financing was used to acquire a new cement plant from FLSmidth. The plant became operational in April 1998.

In 2004, Maple Leaf Cement initiated a process conversion project, transitioning a wet process plant with a clinker capacity of 600 tons per day (tpd) for grey cement to a dry process plant with a clinker capacity of 500 tpd for white cement. The project was completed, and commercial production commenced on April 1, 2006. Following the conversion, white cement production capacity increased from 30,000 tpa to 180,000 tpa. The total cost of the project was PKR 3,280 million.

In November 2022, Maple Leaf Cement commissioned a new grey clinker production line at its brownfield site in Iskanderabad, Punjab, Pakistan. The production line was supplied by Chengdu Design & Research Institute of China and increased the site's production capacity by 7000 tons per day. The total cost of the project was PKR 20 billion (approximately US$90.2 million at the time). The project was financed with a debt-to-equity ratio of 70:30, with funding obtained through the Long Term Financing Facility (LTFF) and Temporary Economic Refinance Facility (TERF) offered by the State Bank of Pakistan.

References

  1. "Maple Leaf Cement Annual Report 2023". Archived from the original on 18 May 2024. Retrieved 18 May 2024.
  2. "Maple Leaf plans to raise Rs4.3bln through rights issue". The News International. 16 August 2017. Archived from the original on 3 January 2018. Retrieved 2 January 2018.
  3. "Corporate result: Maple Leaf Cement's earnings fall slightly to Rs4.7b". The Express Tribune. 13 September 2017. Archived from the original on 11 November 2020. Retrieved 18 November 2020.
  4. "Maple Leaf Cement to Record Highest Net Profit in Six Years". November 20, 2012 – via www.bloomberg.com.
  5. Salman Abduhu (13 June 2017). "Cement prices up by Rs10-20/bag". The Nation. Retrieved 18 November 2020.
  6. "Maple Leaf places $80m plant order". Dawn. 18 January 2017. Archived from the original on 23 February 2019. Retrieved 18 November 2020.
  7. Research, B. R. (January 25, 2024). "Maple Leaf Cement Company". Brecorder. Archived from the original on May 9, 2024. Retrieved November 28, 2024.
  8. ^ "Maple Leaf Cement Factory Limited profile". Economic Review. April 1, 2008.
  9. "Ministry of Privatisation - Privatisation Commission". March 28, 2023. Archived from the original on March 28, 2023. Retrieved November 28, 2024.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  10. Jamal, Nasir (November 11, 2013). "Rebuilding on ruins of nationalisation". Dawn. Archived from the original on July 8, 2023. Retrieved January 2, 2018.
  11. ^ "IFC APPROVES US$45.2 MILLION FOR CEMENT FACTORY IN PAKISTAN". IFC.
  12. "Maple Leaf review". International Cement Review. February 28, 2005. Archived from the original on May 9, 2024. Retrieved November 28, 2024.
  13. "MEED | PAKISTAN: IFC promotes hedging deals". Archived from the original on 2024-05-09. Retrieved 2024-11-28.
  14. "Cement: MAPLE LEAF CEMENT FACTORY LIMITED - Year Ended 30-06-2004". Brecorder. February 28, 2005. Archived from the original on May 9, 2024. Retrieved November 28, 2024.
  15. ^ "Maple Leaf Cement begins Line 4 production". International Cement Review. November 9, 2022. Archived from the original on May 9, 2024. Retrieved November 28, 2024.
  16. Mangi, Faseeh (February 23, 2021). "Construction Giant Mulls Expansion After Imran Khan's Tax Perk for Pakistan Housing". Bloomberg. Archived from the original on 2021-03-01. Retrieved 2024-11-28.
Saigol Group
People
Companies
Former companies
KSE-30 companies of Pakistan   → KSE-100
As of September 2024
Pakistan Companies of the KSE 100 Index
As of October 2024
Categories: