Maple Leaf Cement
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Company type | Public |
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Traded as | PSX: MLCF KSE 100 component KSE 30 component |
Industry | Cement |
Founded | 1956; 68 years ago (1956) |
Headquarters | Lahore, Pakistan |
Key people | Sayeed Tariq Saigol (CEO) Tariq Sayeed Saigol (chairman) |
Revenue | ![]() |
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Net income | ![]() |
Total assets | ![]() |
Total equity | ![]() |
Owner | Kohinoor Textile Mills (56.50%) |
Parent | Saigol Group |
Subsidiaries | Maple Leaf Power Limited Maple Leaf Industries Limited |
Website | www |
Footnotes / references Financials as of 30 June 2023[update] [1] |
Maple Leaf Cement (Urdu: میپل لیف سیمنٹ) is a Pakistani cement manufacturer based in Lahore.[2][3] It is the fifth-largest cement manufacturer in Pakistan after Lucky Cement, DG Cement, Bestway Cement, and Fauji Cement.[4][5][6]
History
Maple Leaf Cement was founded in 1956 by the West Pakistan Industrial Development Corporation in a collaboration with the Government of Canada.[7][8] In January 1992, Maple Leaf Cement was acquired for Rs 486 million by Nishat Mills under the privatization scheme of the Government of Pakistan.[9] Later, it was transferred to Saigol Group in a swap scheme in which Nishat Group acquired DG Cement from Saigol Group.[10]
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.[11] The project had a total cost of US$160.8 million.[11] 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.[11] 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.[11] The remaining financing was raised by listing the company on the Karachi Stock Exchange on August 17, 1994.[12] The financing was used to acquire a new cement plant from FLSmidth.[11][13]
In 2005, Maple Leaf Cement increased its production capacity from 100 to 600 tons per day.[14] The company also optimized its dry process plant, increasing its capacity from 3,300 to 4,000 tons per day.[14] Additionally, an expansion project was initiated to increase grey cement production by 6,700 tons per day.[14]
In November 2022, Maple Leaf Cement commissioned a new grey clinker production line at its brownfield site in Iskanderabad, Punjab, Pakistan.[15] The production line was supplied by Chengdu Design & Research Institute of China and increased the site's production capacity by 7000 tons per day.[15] The total cost of the project was PKR 20 billion (approximately US$90.2 million at the time).[15] 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.[15][16]
References
- ^ "Maple Leaf Cement Annual Report 2023". Retrieved 18 May 2024.
- ^ "Maple Leaf plans to raise Rs4.3bln through rights issue". The News International, Published 16 August 2017, Retrieved 18 November 2020.
- ^ "Corporate result: Maple Leaf Cement's earnings fall slightly to Rs4.7b". The Express Tribune. 13 September 2017. Retrieved 18 November 2020.
- ^ "Maple Leaf Cement to Record Highest Net Profit in Six Years". November 20, 2012 – via www.bloomberg.com.
- ^ Salman Abduhu (13 June 2017). "Cement prices up by Rs10-20/bag". The Nation. Retrieved 18 November 2020.
- ^ "Maple Leaf places $80m plant order". Dawn. 18 January 2017. Retrieved 18 November 2020.
- ^ Research, B. R. (January 25, 2024). "Maple Leaf Cement Company". Brecorder.
- ^ "Profile – Maple Leaf Cement Factory".
- ^ "Ministry of Privatisation - Privatisation Commission". March 28, 2023.
- ^ Jamal, Nasir (November 11, 2013). "Rebuilding on ruins of nationalisation". Dawn.
- ^ a b c d e "IFC APPROVES US$45.2 MILLION FOR CEMENT FACTORY IN PAKISTAN". IFC.
- ^ "Maple Leaf review". International Cement Review. February 28, 2005.
- ^ "MEED | PAKISTAN: IFC promotes hedging deals".
- ^ a b c "Cement: MAPLE LEAF CEMENT FACTORY LIMITED - Year Ended 30-06-2004". Brecorder. February 28, 2005.
- ^ a b c d "Maple Leaf Cement begins Line 4 production". International Cement Review. November 9, 2022.
- ^ Mangi, Faseeh (February 23, 2021). "Construction Giant Mulls Expansion After Imran Khan's Tax Perk for Pakistan Housing". Bloomberg.
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