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Ittefaq Iron Industries
From Wikipedia, the free encyclopedia
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Ittefaq Iron Industries (Urdu: اتفاق آئرن انڈسٹریز) is a Pakistani steel manufacturer based in Lahore, Pakistan.[1][2]
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History
Ittefaq Iron Industries Limited was founded in 2004 by the Alshafi Group, which originated from Ittefaq Foundries.[3] In the early 1990s, the group separated from Ittefaq Foundries and inherited Ittefaq Sugar and Brother Steel.[4] Later, it established several companies, such as Kashmir Sugar Mills, Kashmir Feeds, Ittefaq Bio Tech, and Kashmir Poultry Breeders.[4] It is also a trustee of the Ittefaq Hospital.[4]
In 2004, Ittefaq Sons was incorporated to produce steel bars.[4] The company expanded in 2008 with an additional induction furnace, incorporated as Alshafi Steel.[4] A year later, Alshafi Steel merged with Ittefaq Sons, forming Ittefaq Iron Industries Limited in 2009.[1][5]
In 2017, Ittefaq Iron Industries raised Rs. 1.26 billion through initial public offering at a strike price of Rs. 30.2 and became a listed company on the Pakistan Stock Exchange.[6][7]
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References
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