PakSearch.com - Pakistan's Best Business site with Annual Reports, Laws and Articles

IBRAHIM FIBRES LIMITED

Annual Reports 2003

Company Information

BOARD OF DIRECTORS

Sheikh Mukhtar Ahmed

Chairman

Mohammad Naeem Mukhtar

Chief Executive Officer

Mohammad Waseem Mukhtar

Iqbal Begum

Ghazala Naeem

Bina Sheikh

Anwarul Hague

SECRETARY

Anwarul Haque

F.C.A.

AUDIT COMMITTEE

Bina Sheikh

Chairperson

Sheikh Mukhtar Ahmed

Member

Ghazala Naeem

Member

Masood Arshad

Secretary

AUDITORS

M. Yousuf Adil Saleem & Co.

Chartered Accountants,

Faisalabad, Pakistan.

BANKERS

ABN - AMRO Bank N.V.

Allied Bank of Pakistan Limited

Citibank, N.A.

Credit Agricole Indosuez

Faysal Bank Limited

Habib Bank Limited

Meezan Bank Limited

National Bank of Pakistan

Standard Chartered Bank

The Hongkong and Shanghai Banking Corporation Limited

Union Bank Limited

United Bank Limited

REGISTERED OFFICE

Ibrahim Centre,

1 - A, Ahmed Block,

New Garden Town,

Lahore - 54600, Pakistan.

HEAD OFFICE

Ibrahim Centre,

15 - Club Road,

Faisalabad - 38000, Pakistan.

SHARES REGISTRATION OFFICE

Ibrahim Centre,

GK - 7/59, Bagh-e-Zehra Street,

Kharadar,

Karachi - 74000, Pakistan.

PROJECTS LOCATION

38 - 40 Kilometres,

Faisalabad - Sheikhupura Road,

Faisalabad, Pakistan.

Corporate Profile

Ibrahim Fibres Limited was incorporated in 1986

as a public limited company and is listed on stock

exchanges in Pakistan.

Aimed at consolidation of strengths within

Ibrahim Group, both technological and human and

to maximize the benefits of synergies already

available to the individual companies, all the

group manufacturing companies were merged into

Ibrahim Fibres Limited with effect from

October 01, 2000.

The manufacturing activity at Ibrahim Fibres

Limited is today comprised of Polyester Fibre

Division and Spun Yarn Division supported by an

in-house Power Generation Project.

The Polyester Fibre Division produces a wide

range of Polyester Staple Fibre (PSF) in different

varieties, finishes, cut lengths and denier. Besides

these, it also produces dyed and hollow fibres in

siliconised and non siliconised varieties.

The Spun Yarn Division specialises in production

of finer counts of blended as well as pure

synthetic yarns.

Engineering and Technology

The Provox plus data provides access to historical

The Polyester Fibre Project is based on the

process data for monitoring and analyzing process

engineering and technology supplied by Zimmer AG

conditions. Intelligent alarming techniques help

Germany, who are market leaders in the polyester

enhanced operator control capability to evaluate

polymer capacities supplied worldwide representing

changing conditions and to respond quickly to any

nearly 30% share in the world market. The plant is

process changes. The plant has one to one

equipped with Provox plus Distributed Control

redundancy starting from process control units upto

System (DCS) using SRX process controllers

all Input/Output modules enabling smooth and

providing a foundation for real time, efficient and

consistent operation of the plant.

accurate control and monitoring of the process of

entire plant through Computer Integrated

The polyester project is equipped with bulk PTA

Manufacturing (CIM).

container charging facility ensuring dust free PTA

charging to polycondensation resulting in low

wastage and improved quality of finished product.

Polyester Fibre Project - Plant II

This Plant has a single polymer line of

410 tons/day and three spinning and

staple fibre processing lines, each

having.a capacity of 132 tons/day.

The installed annual manufacturing

capacity of the plant is 138,600 tons

of PSF per annum. The plant supplier

opted to start operations of spinning

and staple fibre processing lines one

after other and the commercial

production was started in

October 2002.

Product Range

The Polyester Fibre Division of

the Company produces wide

range of PSF of different lusters

and varieties including semi

dull, bright, optical bright, anti

pilling, flame retardant and

trilobal with cut lengths of 32,

38, 44, 51 and 64 mm and

fineness of 0.8,1.0, 1.2, 1.5,

1.7, 2.0, 3.0 and 6.0 denier.

The project is the first in

Pakistan to start the production

of dyed fibre and hollow fibre in

siliconised and non-siliconised

varieties.

Polyester Fibre Project - Plant I

Initiated in 1994 and operational since December 19%,

Plant I has a capacity to produce 200 tons/day of PSF in

two lines of 100 tons/day each . Based on 24 hours/day

operations of the polycondensation and spinning plant

and on 20 hours/day operation of fibre lines, the

installed annual manufacturing capacity of the plant is

70,000 tons of PSF.

Ibrahim Textiles

Constantly upgrading plant and machinery since initial operations

in 1980, the present manufacturing operations of Ibrahim Textiles,

have a total installed capacity of 58,080 spindles. The project is

divided into three plants located within the same premises.

Ibrahim Textile - Plant I has been upgraded in 1999, consists

of 21,600 spindles (20 frames of 1,080 spindles each) from Marzoli,

Italy, with cone-winding of Savio, Italy.

Ibrahim Textile - Plant II consists of 17,280 spindles

(18 frames of 960 spindles each) from Howa, Japan with cone-

winding of Savio, Italy.

Ibrahim Textile - Plant III consists of 19,200 spindles

(32 frames of 600 spindles each) from Marzoli, Italy with

cone-winding of Schlafhorst Germany.

A.A. Textiles

The rapidly growing demand for quality yarns being produced by

Ibrahim prompted the company to add another manufacturing

facility; A.A. Textiles in 1984. The present manufacturing operations

of A.A. Textiles have a total installed capacity of 40,128 spindles

divided into two plants.

A.A. Textile - Plant I gone through major modernisation operation

in 2002, the Plant consists of 19,008 spindles (18 frames of 1,056

spindles each) from Marzoli, Italy, with cone-winding of Savio, Italy.

A.A. Textile - Plant II consists of 21,120 spindles (44 frames of

480 spindles each) from Howa, Japan with cone-winding of

Murata, Japan.

Spun Yarn Division

Spun yarn division of Ibrahim Fibres

Limited consists of three projects;

Ibrahim Textiles, A.A. Textiles and

Zainab Textiles. All these projects

were operating as independent public

limited companies and were listed on

stock exchanges in Pakistan till

September 2000 before their merger

into Ibrahim Fibres Limited.

These projects are equipped with

Real Time Ring Monitoring System

(RTRMS), uster ring expert, spin

vision, coner pilot for online

monitoring and analysing to facilitate

production and efficiency while

maintaining quality parameters.

Moreover auto-doffing system has

been installed on the spinning and

winding machines to automate the

manufacturing process.

In the last quarter, the effects of SARS epidemic

subsided and business activity in international

market started gaining momentum. This situation

coupled with rumors of lower cotton crop boosted

the demand of PSF as well as blended yarns thus

bringing an improvement leading to stability in their

margins.

In spite of these ups and downs in international

market as well as pressures of domestic market,

your Company has further penetrated into the market

to increase its market share and has maintained its

profitability due to the continuous efforts made by

your management to remain competitive in barrier

free non protective global economy.

PRODUCTION OPERATIONS

Polyester Fibre Project-Plant II which started its

trial run production during the previous year

commenced its commercial production from October

2002, this has increased the installed production

capacity of PSF/Polyester chips to 208,600 tons per