Majority stake in Zeal Pak Cement to be sold, Pakistan

Majority stake in Zeal Pak Cement to be sold, Pakistan
21 February 2013

The majority shareholder of Pakistan cement manufacturer Zeal Pak Cement, Sardar Mohammad Ashraf D Baluch (Pvt) Ltd, plans to its 64 per cent controlling stake in the company.

Zeal Pak’s plant, located in Hyderabad, Sindh province, is a wet-process plant with a capacity of 3000tpd. A company official told CemNet News that the owner also wants to sell Zeal Pak Cement Factory’s paper sack division, which has a capacity of 120,000 bags per day. The slag division of Zeal Pak Cement Factory is also being offered for sale with a slag grinding capacity of 660tpd. .

Zeal Pak was established in 1956 with two wet-process kilns of 400tpd capacity each. In view of an increasing demand for cement an identical third unit was added in 1960 and a fourth line three years later, raising the plant’s total capacity to 1600tpd. Following privatization in October 1992, Zeal Pak’s came under the management of Sardar Mohammad Ashraf D. Baluch (Pvt) Ltd.

According to the latest figures available, for the quarter ended 30 September 2012 (1QFY13), the company’s sales revenue stood at PKR101.293m (US$1.03m) compared to PKR85.035m in the same period of the previous year. Cement production for the quarter stood at 300t compared to 900t a year earlier. The company also reported a 1QFY13 post-tax loss of PKR88.593m compared to PKR66.615m during the same quarter a year before.

Published under Cement News