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Company Profile  

ICC Industries Limited ( Formerly ICC Textiles Limited ) "the Company" was incorporated in Pakistan on May 25, 1989 as a public limited company (PIC) under the repealed Companies Ordinance, 1984 (Repealed with the enactment of the Companies Act, 2017 on May 30, 2017). The shares of the Company are listed on Pakistan Stock Exchange.

The principal activity of the Company is renting out vacant buildings and / or open area of the Company's premises. The registered office of the Company is situated at 242-A, Anand Road, Upper Mall, Lahore and the Company's premises are located at 32-Km Multan Road, Sundar, Lahore.

Background:

To avail the lucrative incentive policy of the late 1980's for Industrial investment in the Textile sector, our well established business group set up a modern Textile weaving project in 1990 comprising 60 Sulzer shuttleless looms with complete European backup process and to optimize the scale of the project, the capacity was enhanced by adding 40 additional Sulzer dobby looms through company’s self cash flows, without seeking funds from the banks or public money. Further, while going along with the technology and capacity enhancement spirit in the entire textile weaving sector in Pakistan, anticipating huge market potential due to the abolishment of the quota regime in Jan 2005, our management decided to increase the production volume by installing additional 72 state of the art air-jet looms along with complete new back process and ancillary equipment which came into production in March 2005. However, the anticipated positive results could not be achieved, as there was a capacity boom in the entire Asian region, creating a huge fabric glut thus bringing down the prices. The excessive cheap textile exports from China along with huge government subsidies in our competing countries rendered exports from Pakistan unviable.

The grave situation resulted in closure of a substantial portion of the Industry with numerous bank defaults and retrenchment of workforce.  The brunt of the negative impact was felt by the Capital Intensive, Modern, Small to Medium Size Stand alone Shuttleless Weaving Sector.

Despite all these difficulties, ICC Textiles managed to sustain with an efficient production system and a  diversified share in the export market, while servicing all its financial liabilities.

A new challenge, specific to Pakistan, was introduced in 2006 due to the shortage of gas resulting in the start of the grave menace of Electricity load shedding. The entire organized weaving sector switched to Captive power by setting up their own gas based power plants.

Unfortunately, ICC Textiles could not benefit from this facility as we were denied an Industrial gas connection on the pretext that our Plant was not located on the main gas pipeline route and was not part of an Industrial cluster. At ICC Textiles, the energy problem was even more severe, as it was the only Capital & energy Intensive, Export Oriented, Continuous process, Modern Weaving unit which was deprived of cheap electricity due to non availability of a Captive power Gas connection. Moreover, as the plant is located in close vicinity of city of Lahore, it was exposed to abnormally excessive load shedding and electricity interruptions thus incurring huge costs for reduced production.

Despite successive government promises, the energy problem of the country kept on deteriorating with the passage of time, resulting in massive electricity load shedding coupled with high electricity tariff. ICC Textiles reliance on the only available alternative of expensive diesel based back up power was not a lasting solution. Moreover, the government policy of keeping the artificially high value of Rupee exchange rate and abolishing all incentives for the textile industry made our project financially unviable with no signs of improvement.

Hence, in 2017, the Directors of ICC Textiles decided to suspend the Textile operations to stop further accumulation of company's losses and liabilities and Directors of the company approved a plan to consolidate the company’s resources by paying its bank liabilities through sale of textile machinery and sponsors funds injection and to renting out its vacant buildings and open area to genera revenue.

The plan has been successfully implemented i.e. bank borrowings have been fully repaid by April 2018 and company has rented out substantial portion of its factory premises to generate revenue. Accordingly, principle line of business has been changed in February 2020, with the approval of Securities and Exchange Commission of Pakistan, as under:

“Principal line of business of the Company shall be to provide facilities for storage on proprietary as well as rental basis and to undertake real estate development including investment, construction, purchase, sale, lease and disposal of real estate assets.”

However, as our existing textile infrastructure is intact, we may consider to evaluate and invest in the new textile weaving technology in future.

 

VISION:

To be a true model of successful business enterprise Philosophy.

MISSION: To vigorously strive for responsive service to meet the demands of our diverse clientele, with an objective to achieve full customer satisfaction.

Company Registration Information:

Registration Number:
0019664

National Tax Number:

0658194-3

LCCI Membership Number: 21839-C

Registered Address:

      242-A, Anand Road, Upper Mall
      P.O.Box:1280
      Lahore 54000
      Pakistan
      Phone:   +92 42 35751765, 35751766, 35751767
      Fax:      +92 42 35789206

Factory Address:

      32-K.M. Lahore-Multan Road,
      Sunder, Distt. Lahore.
      Phone:  042-35975426-27
      Fax :    042-35975428
 
      Website:  www.icctextiles.com
 
      E-mail:     General:      icctex@icctextiles.com
                    marketing:   marketing@icctextiles.com
 

Associated Companies:

1. ICC ( Pvt. ) Limited

2. Arabian Electric Transmission Line Construction Company Ltd

3. Emco Industries Limited

4. Associated Engineers ( Pvt. ) Limited

 
   

For Problems/ questions contact : icctex@icctextiles.com
Copyright © 2012 ICC Industries Limited. All Rights Reserved.
[ Last updated: 30/04/2022 ]
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