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Tractors: MILLAT TRACTORS LIMITED - Analysis of Financial Statements - Financial Year 2004 - Financial Year 2010
July 27, 2011
RECORDER REPORT
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Millat Tractors Limited (MTL) was established in 1964 to introduce and market 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 nationalized 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, the 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.
The 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 management by winning an open bid.
To maintain its leadership role in tractor manufacturing in the country, the MTL continues to look towards future, to identify and exploit new opportunities and to consolidate existing ones.
The Tractor Assembly Plant is part of this philosophy.
The plant started its production in
July 27, 2011
RECORDER REPORT
0 Comments
Millat Tractors Limited (MTL) was established in 1964 to introduce and market 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 nationalized 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, the 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.
The 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 management by winning an open bid.
To maintain its leadership role in tractor manufacturing in the country, the MTL continues to look towards future, to identify and exploit new opportunities and to consolidate existing ones.
The Tractor Assembly Plant is part of this philosophy.
The plant started its production in