10th last date to submit EOI for PMTF

ISLAMABAD—The Privatization Commission (PC) has announced December 10, 2007 as last date to submit Expression of Interest (EOI) by prospective investors i.e. companies or consortia engaged in manufacturing or engineering business who can demonstrate the ability to own and efficiently manage and operate the Company for the acquisition of minimum of 90% shares of Pakistan Machine Tool Factory (Pvt.) Ltd. (PMTF) together with management control on ‘as is, where is’ basis.
According to Privatization Commission, the interested parties have been asked to submit EOI in duplicate together with a non-refundable processing fee of US$ 5,000 or PKR 300,000/=.
All the parties, which shall submit EoI would be sent Request for Statement of Qualification (RSOQ) inviting Statement of Qualification (SOQ) which shall form the basis of pre-qualification. Closing date for submission of Statement of Qualification (SOQ) is December 26, 2007.
The interested parties have been asked to clearly provide the information with EOI including Name of company, nature of business and other background information along with copies of constitutive documents, Proof of net worth of Rs.1 billion as per audited financial statements, duly certified by a firm of Chartered Accountants, for the latest year but not earlier than December 2006, List of director(s) along with copies of Computerized National Identity Card (CNIC) and National Tax Number (NTN), Name, Address, Telephone, Mobile, Fax, Email of the Focal Person to be contacted, Pending, threatened litigation(s) against the company and the director(s) and in the event of a consortium, the consortium will be required to provide a consortium agreement identifying the lead bidder (a company) and setting forth obligation inter-se of consortium members.
The Privatization Commission (‘PC’) has invited Expression of Interest (EOI) from prospective investors i.e. companies or consortia engaged in manufacturing or engineering business who can demonstrate the ability to own and efficiently manage and operate the Company for the acquisition of minimum of 90% shares of Pakistan Machine Tool Factory (Pvt.) Ltd. (PMTF) together with management control on ‘as is, where is’ basis.
Pakistan Machine Tool Factory (Private) Limited (PMTF) is a unit of State Engineering Corporation (Private) Limited (SEC) under the administrative control of Ministry of Industries, Production & Special Initiatives. PMTF is a private limited company with 100% shares owned by the Government of Pakistan (GOP).
The factory was established in 1968 under the technical collaboration with Oerlikon Buhrle of Switzerland with paid-up capital of Rs.291.696 million. It commenced commercial production in 1970 and obtained ISO 9001:2000 certification in 1997/2000.
The Company’s machinery and ancillary facilities to support manufacturing activities include a variety of conventional and CNC facilities within its premises, as Forging, Machining (Turning, Milling, Gear Cutting, Gear Grinding, Broaching, Spline Rolling, Boring, etc), Pressure Die Casting, Heat Treatment, Surface Treatment, Material Testing, Product Designing, Tool Designing, Tool Room Shop, Sheet Metal & Welding Shop, CNC Shop, Electronic Lab., Machine Rebuild Shop & Power Station.
The PMTF expanded and modernized its production facilities in 1986 and 2005 to meet the requirements of enhancing the product-mix in accordance with market demand.—APP