Yousuf Dewan Companies
 | |
| Formerly | Dewan Mushtaq Group |
|---|---|
| Company type | Corporate group |
| Founded | 1912 |
| Founder | Dewan M Mushtaq Farooque |
| Headquarters | Karachi, Pakistan |
Key people | Dewan Mohammad Yousuf Farooqui (Chairman) |
| Owner | Dewan Yousuf Farooqui |
Number of employees | 3,400 (2019) |
| Website | yousufdewan |
Dewan Group, also known as Yousuf Dewan Companies (YDC) (Urdu: یوسف دیوان کمپنیز) is a group of companies headquartered in Karachi.[1]
History
[edit]Dewan Group was founded in 1912 as Sh Dewan Muhammad Mushtaq by Dewan M. Mushtaq Farooque.[1][2] Its early business was focused on trading secondhand garments, procured in Karachi and sold in Delhi.[1]
Following the partition of India, the family relocated from Patiala, East Punjab to Karachi.[1] In 1948, Dewan family founded Dewan Mushtaq Sons, operating from a small shop on North Napier Road.[1] Over time, the family encountered several tragedies coinciding with their business milestones.[1] Dewan Mushtaq died in 1968, and in 1970, a vehicular accident claimed the lives of his wife, their son Noman, and a daughter while traveling to the foundation stone ceremony of Dewan Textile Mills in Kotri, the group's first cotton spinning unit.[1]
After these events, leadership transitioned to Dewan Umar Farooque, the second eldest son, who expanded the business into importing second-hand clothes and tea.[1] Under his leadership, the group became a major player in the Pakistan Secondhand Cloth Merchant Group and the Tea Traders Association of Pakistan.[1]
Between 1970 and 1978, Dewan Umar and his brother Dewan Salman established additional textile spinning units in Kotri and Hyderabad, as well as a sugar mill in Thatta with a production capacity of 5,000 tons.[1]
In 1990, Dewan Group and Mitsubishi Corporation entered into an agreement establishing Dewan Salman Fibre (DSF).[1] Polyester fibre production began in 1992 and around this time, a 12.5% sales tax was introduced on PTA and MEG.[1]
In 1994, Dewan Group undertook Pakistan's first Euro Convertible Bond issue for Unit II, as the sales tax on PTA and MEG rose to 15%.[1] Unit II commenced production in 1995.[1] In 1996, Dewan Salman Fibres relinquished a previously held sales tax concession.[1]
In 1998, Dewan Group founded Dewan Farooque Motors.[1] By 2000, the first Kia Classic car was produced, and the group completed the acquisition of Dhan Fibre.[1]
In 2003, Dewan Group established Dewan Farooque Textile Mills.[1] In 2004, the group acquired Pakland Cement for Rs 1.1 billion, along with Khoski Sugar Mill, Bawany Sugar Mill, and Al Asif Sugar Mill, and made an investment in Dewan Petroleum.[1]
In 2006, an attempt to restructure Dewan Salman Fibres' debt did not succeed.[1] By 2007, banks limited working capital availability, and Dewan Zia stepped down as chairman, succeeded by Dewan Yousuf.[1] The group recorded its first net loss, primarily due to Dewan Salman Fibres' financial performance.[1] In 2008, all entities within the group reported losses, leading to a default.[1]
Companies
[edit]The group owns the following companies:
Cement
[edit]- Dewan Cement
- Pakland Cement, 1984
Dewan Karachi Plant established in 1982, having total capacity of 5880 tons/day. Dewan Hattar Plant established in 1995, having total capacity 3780 tons/day. Yousuf Dewan Companies acquired the Pakland Cement Limited, Karachi and Saadi Cement Limited, Hattar on May 17, 2004.[3]
Dewan Hattar Cement Limited merged Dewan Cement Limited on 22-Oct-2007.[4]
Automotive
[edit]- Dewan Motors Private Limited [5]
- Dewan Mushtaq Motor Company (Pvt.) Ltd.
- Dewan Automotive Engineering Limited (defaulter)
- Dewan Farooque Motors Limited[6]
Textile
[edit]- Dewan Textile Mills Limited (defaulter)[7]
- Dewan Khalid Textile Mills Limited (defaulter)[7]
- Dewan Mushtaq Textile Mills Limited (defaulter)[7]
- Dewan Farooque Spinning Mills Limited (defaulter)[8]
- Dewan Salman Fibre Limited (defaulter)[9]
Sugar
[edit]- Dewan Sugar Mills Limited (defaulter)[10]
Educational institutes
[edit]The group owns the following educational institutes:
References
[edit]- ^ a b c d e f g h i j k l m n o p q r s t u v w Saad Hasan (11 May 2014). "The rise and fall of Dewans". The Express Tribune. Retrieved 23 August 2020.
- ^ "Dewan Mushtaq Group". 13 July 2001. Archived from the original on 21 February 2009. Retrieved 23 August 2020.
- ^ "Dewan Cement Limited". Business Recorder. Retrieved 6 June 2020.
- ^ "Merger Information" (PDF).
- ^ Dewan Motors Wins BMW Award Newsweek (Pakistan) website, Published 25 May 2017, Retrieved 23 August 2020
- ^ "Members – PAMA – Pakistan Automotive Manufacturers Association".
- ^ a b c "Dewan group may merge cos in DSFL". DAWN.COM. 11 June 2002.
- ^ Research, B. R. (28 March 2024). "Dewan Farooque Spinning Mills Limited". Brecorder.
- ^ "Dewan Salman Fibre". DAWN.COM. 26 January 2003.
- ^ Dewan Sugar Mills Limited Business Recorder, Published 20 August 2020
- ^ "SBBDU | Home". www.sbbdewanuniversity.edu.pk. Retrieved 28 May 2020.