The company is recognized in the local and international market as a fine quality producer of white refined sugar and molasses.
Fatima Sugar Mills Limited “FSML” (Formerly Reliance Sugar Mills Limited) was incorporated in Pakistan on July 15, 2011 under the Companies Ordinance, 1984 as a public company limited by shares.
The Board of Directors of former Fatima Sugar Mills Limited decided to divide it into two Companies:
- Sugar Undertaking was transferred to Reliance Sugar Mills Limited (incorporated in 2011 for this purpose) and was renamed as Fatima Sugar Mills Limited
- Investment business was retained in former FSML and the company was renamed as Fatima Holding Limited.
The division was completed through a petition under sections 284 to 287 of the Companies Ordinance 1984 filed in the Lahore High Court, Lahore (the Court) seeking sanction of the Scheme of Arrangement (the Scheme) between FSML (transferor Company) and Reliance Sugar Mills Ltd. “RSML” (transferee Company). In November 2013, The Scheme was sanctioned by the Court in its order passed in civil original No. 10/2012. The division has been effected on October 01, 2011.
The sugar undertaking received by the company through the de-merger scheme was established in 1988 and certificate of commencement of business was granted in 1989.
The project was financed by ICP-Led consortium consisting of NBF ABL, MCB, UBL and HBL. Initially the sponsors of the company injected a capital of Rs. 128.459 million and subsequently it was enhanced to Rs. 720.478 million at different intervals. The current paid up capital of the company pursuant to demerger is Rs. 2,101.708 million.
Mills basic plant & machinery was acquired and installed by The Heavy Mechanical Complex, Taxila (A State Engineering Company), however, other vital equipments such as turbines, gearboxes etc. were imported from Germany and United Kingdom. The plant was started with initial crushing capacity of 4,000 M.Tons per day and it was subsequently enhanced in four phases. Currently the plant is working at the crushing capacity of 9,500 M. Tons per day.
The company is recognized in the local and international market as a fine quality producer of white refined sugar & molasses and also holds a substantial share in the local market. The company is also engaged in the export of white refined sugar and molasses and is contributing to the national economy in the form of foreign exchange.
In pursuance to its quality consciousness, the company has been accredited ISO-9001 certification by SGS and GMP B2 certification by Control Union World Group. The company has very clear goals and objectives and is striving to achieve competitive advantage by adopting latest technology & innovations, consistent training of its technical staff in the field of sugar industry and through appropriate strategies.
Page Last Updated: Monday, May 02, 2016