Dawood Hercules Corporation Limited

Dawood Hercules Corporation
Public
Traded as PSX: DAWH
Industry Fertilizer
Food
Power Generation
Investment Management
Founded 1968 (1968)
Founder Ahmed Dawood [1]
Headquarters Karachi, Pakistan.
Area served
 Pakistan
Key people
 Hussain Dawood (Chairman)
Inam ur Rahman (CEO)
Website www.dawoodhercules.com

Dawood Hercules Corporation Limited (DH Corp.) is a Pakistani investment company which is based in Karachi, Pakistan. It has diversified holdings in Energy and Foods.[2][3]

Company has a 37% ownership of subsidiary company Engro Corporation Limited. In July 2017 Dawood Hercules announced its intention of divesting its holding in Hub Power Company and cease involvement in management.[4]

Business interests

Former Business Interests

Investments


History

1952

Dawood Cotton Mills Limited set up in Karachi.

1954

Burewala Textile Mills Limited established in Punjab.

1954

Lawrencepur Woolen & Textile Mills became operational and produced yarn for hand-knotted carpets, blankets for Pakistan Armed Forces, tweed and worsted fabrics.

1960

The group establishes Central Insurance Company. The company operated in all major cities of Pakistan and transacted all conventional forms of insurance covers successfully.

1960

Lawrencepur Woolen & Textile Mills saw a revolutionary change as Dawood Group took over the mills. The new management took radical steps to expand and modernize the production facilities.

1961

Formed in 1961, The Dawood Foundation today is one of the largest private charitable trusts in the country. The foundation has contributed funds for establishing schools, colleges, hospitals, dispensaries and towards scholarships for students. For example, Dawood College of Engineering and Technology in Karachi was established in 1962 by The Dawood Foundation and the foundation-stone laying was done by the former President of Pakistan Ayub Khan.[8]

1967

Dilon Limited, Pakistan’s first Nylon Yarn Producer, was established in Karachi.

1968

Dawood Hercules Chemicals Limited was established as a joint venture between the Dawood Group and Hercules Chemicals Inc. of the United States. It was the first private sector venture in Pakistan to receive a loan by the World Bank.

1971

In East Pakistan Karnaphuli Paper Mills, Karnaphuli Rayon & Chemicals Limited, Dawood Jute Mills and Dawood Shipping Company were founded.

1996

Burewala Textile Mills became Pakistan’s first spinning and weaving mill to receive the prestigious ISO 9001 certification.

2003

Dawood Hercules Chemicals Limited acquires 61 million shares (10%) in Sui Northern Gas Pipelines Limited.[9]

2010

In June 2010, Dawood Hercules Chemicals Limited announces the demerger of its fertilizer business.

2010

The fertilizer business is transferred to a wholly owned and newly incorporated subsidiary - Dawood Hercules Fertilizers Limited.

2012

DH Corp. and its affiliates collectively acquire 16.42% stake comprising 190mn shares in Hub Power Company Limited (HUBCO).[10]

Board of directors

  • Hussain Dawood, Chairman
  • Inam ur Rahman, Chief Executive Officer
  • Samad Dawood, Director
  • Shahzada Dawood, Director
  • Sabrina Dawood, Director
  • Parvez Ghias, Director
  • Shabbir Hashmi, Director
  • Hasan Reza Ur Rahim, Director
  • Muneer Kamal, Director
  • Shafiq Ahmed, CFO & Company Secretary

References

  1. ↑ Seth Ahmed Dawood passes away Dawn (newspaper), Published 3 January 2002, Retrieved 25 October 2017
  2. ↑ Gas supply to Dawood Hercules Fertilisers suspended Business Recorder (newspaper), Published 21 April 2012, Retrieved 25 October 2017
  3. ↑ https://www.dawn.com/news/1355049
  4. ↑ https://dailytimes.com.pk/4218/dawood-hercules-to-sell-entire-shareholding-in-hubco/ Pakistan Daily Times: Dawood Hercules to sell entire shareholding in Hubco
  5. ↑ Pakarab Fertilisers acquires Dawood Hercules Fertilisers for Rupees 2 billion Dawn (newspaper), Published 16 June 2015, Retrieved 25 October 2017
  6. ↑ "Hubco generation capacity doubles in six years: Chairman". Business Recorder. 17 March 2018. Retrieved 24 May 2018.
  7. ↑ "DHC, Cyan sell Hubco shares at Rs105.12". Dawn. 17 March 2018. Retrieved 24 May 2018.
  8. ↑ Dawood College of Engineering and Technology to remain under Federal Government Dawn (newspaper), Published 20 june 2004, Retrieved 25 October 2017
  9. ↑ Dawood Hercules gets 61m shares of Sui Northern Gas Pipelines Limited Dawn (newspaper), Published 12 June 2003, Retrieved 25 October 2017
  10. ↑ Hub Power Company is sold to Dawood Group Dawn (newspaper), Published 12 June 2012, Retrieved 25 October 2017
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.