Categorie: IPO / Secondary Offering
Submitted 9 months ago by
Xpertwriter
, CEO At E-HostingJunction.com
at Spectrum Resumes , Inc
Millat Tractors Limited (MTL) was established in 1964 to introduce Massey Ferguson (MF) tractors in Pakistan. An assembly plant was set up in 1967 to assemble tractors in semi-knocked down (SKD) condition.The company was nationalised under Economic Reforms Order in 1972 and started assembling and marketing tractors on behalf of Pakistan Tractor Corporation (PTC), which was formed by the government for import of tractors in SKD condition. In 1980 the government decided to produce indigenous tractors and entrusted this task to PTC. In 1981 MTL took over this task. This was the turning point in the company's history and it went about the task methodically and rapidly. Just in one year's time, the company took a giant step towards self-reliance by setting up the first engine assembly plant in Pakistan.MTL made a strategic decision right in the beginning to bring those manufacturing facilities in-house for which capabilities did not exist in the country and for parts, which required high precision and investment. Therefore, in 1984, sophisticated manufacturing facilities for the machining of intricate components were set up. Currently, critical components like engine blocks, sump, transmission case, axle housing, hydraulic lift cover, front axle support and centre housing are all being machined most successfully in-house at MTL from local sourced castings.In 1992, the company was privatised. The employees joined hands and took over the manageme...
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Submitted 9 months ago by
Xpertwriter
, CEO At E-HostingJunction.com
at Spectrum Resumes , Inc
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