Friday, January 01, 2010
By our correspondent
KARACHI: Engro Chemical Pakistan Limited has changed its name to Engro Corporation Limited, as part of the company’s conversion into a single holding company, says a press release.
Engro Corp has been formed in the interest of better managing and overseeing businesses of subsidiaries and affiliates that are currently part of Engro’s capital investments.
A significant part of this change is the demerger and transfer of Engro’s expanding fertiliser business into a separate wholly-owned subsidiary, named Engro Fertilisers Ltd.
Engro Corp will be one of Pakistan’s largest conglomerates, with diversified lines of business, including fertilisers, foods, energy and power, PVC resins, chemical handling and storage and industrial automation and trading. This new phase in Engro’s growth process will enable all companies to become more autonomous in developing their individual businesses, focusing on brand image, allowing increased efficiency and returns, offering clarity on roles.
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