Amalgamation of wholly-owned subsidiaries

Amalgamation of wholly-owned subsidiaries

October 24, 2019

In its pursuit of synergy to maximize operational and management efficiencies, Atlas Autos (the Company) has recently restructured its investments, whereby its wholly-owned subsidiaries, Atlas Die Casting (Private) Limited (ADC) and Atlas Aluminum (Private) Limited (ATAL) have been merged, by way of amalgamation, with and into the Company effective from July 1, 2019. The businesses of both ADC and ATAL will continue as part of the Company.

Obituary

Obituary

October 20, 2019

20 October 2019 will be remembered as the fateful day when Mr. Yusuf H. Shirazi, the Founder and Chairman of Atlas Group, left for his heavenly abode. He was born on 01 January 1929.

Mr. Shirazi was a visionary with brilliant business acumen and will always be remembered as the most successful and leading first generation entrepreneur of Pakistan. After working for a short while in Public and Private sectors, he embarked on his long and distinguished career in private enterprise where he set up numerous highly successful companies in the field of engineering, finance, trading, power generation etc. In particular his collaboration with Honda Japan paved the way for establishment of Auto Industry in Pakistan. He practically changed the course of lives of millions of Pakistanis by providing inspiring vision, defining new careers and creating numerous opportunities.

Mr. Shirazi was highly respected as a visionary, industrial, writer, journalist and philanthropist. In recognition of his services, he was decorated with the Sitara-e-Essar and Sitara-e-Imtiaz by the Government of Pakistan. He was also bestowed National Awards by the Government of Japan.

“Barey Shirazi Sahab”, as he was lovingly addressed, will continue to inspire generations as his vision transcended into his individual style and a legacy of sustainable managerial system. His economics of Glocalization was reflective of his love for his homeland to the extent that it became contagious. Through sheer inspiration, he managed to attract foreign investments by world-renowned foreign companies such as Honda, GS Yuasa, MAN, etc. to Pakistan.

While Atlas-Wala’s will mourn 20 October 2019 as a sad memory, for the history it will be a joyous celebration of a successful life dedicated to the country and humanity.

Joint Venture Agreement (Atlas Group and GCI China) in Pakistan

Notice Conclusion of Joint Venture Agreement in Pakistan

July 10, 2019

We proudly announce that Atlas Group and GCI, China have agreed to establish a Joint Venture Company in Pakistan for the production of parts for electric components of two-wheeler vehicles.

In September 2018, Atlas Hitec (Private) Limited entered into a Technical Collaboration Agreement with Chongqing Gongcheng Investment Company Limited (GCI) and started to manufacture electric components for higher CC Honda motorcycles in Pakistan.

Both Groups have now decided to deepen the relationship by establishing a Joint Venture Company that provides consistent quality, cost and delivery services to motorcycle part manufacturers by starting production of parts for electrical components for motorcycles in Pakistan.

Both Atlas Group and GCI are renowned names in the manufacturing and marketing of auto products. Atlas Group is best known for manufacturing and marketing of motorcycles and cars in collaboration with Honda Motor Company, Japan. It also manufactures various hi-tech components in-house in technical collaboration with leading Japanese and Chinese components manufacturers including GCI. GCI is a leading supplier of advanced automotive technology, systems and components for the world’s major auto-manufacturers.

The venture marks a significant milestone in the collaboration between two Companies as it strengthens an already excellent co-operation between the two partners.

Details of the joint venture company

Company Name: Atlas GCI (Private) Ltd. (proposed)
Location: Atlas Industrial Park, Landhi – Karachi
Business scope: Sales and manufacture of Circuit Assembly for

Electrical Components

Capital: Rs. 300 million(8 million USD
Mass Pro.: March 2020(Plan)
Capital contribution ratio: Atlas Hitec (Private) Ltd.: 40%

Chongqing Gongcheng Investment Company Ltd.: 40%

Atlas Autos (Private) Ltd.: 20%

 

Technical Collaboration Agreement with Yamada Manufacturing Co. Ltd.

Technical Collaboration Agreement with Yamada Manufacturing Co. Ltd.

July 1, 2019

Atlas Autos proudly announces that it has entered into a technical collaboration agreement with M/s Yamada Manufacturing Co. Ltd. on July 1, 2019 for manufacturing of oil pumps for Honda Motorcycles.

Yamada is one of the leading manufacturers of automobile components and renowned across the globe for its quality and reliability, powered by its cutting-edge technology. We are confident that, with the technical support of Yamada, Atlas Autos will further its mission to provide high quality, reliable, safe and cost competitive products to its customers.

Joint Venture Agreement (Atlas Group and DID Group Japan) in Pakistan

Notice Conclusion of Joint Venture Agreement (Atlas Group and DID Group Japan) in Pakistan

June 18, 2019

We proudly announce that Atlas Group and DID Group Japan have agreed to establish a Joint Venture Company in Pakistan for the integrated-production of motorcycle chains.

In November 2017, Atlas Autos (Private) Limited entered into a Technical Collaboration Agreement with DAIDO Kogyo Co. Limited (DID) and started to assemble motorcycle chains in Pakistan.

Both Groups have now decided to deepen the relationship by establishing a Joint Venture Company that provides consistent quality, cost and delivery services to motorcycle manufactures and the after-market suppliers in Pakistan by starting an integrated production of motorcycle chains in Pakistan.

Both Atlas Group and DID are renowned names in the manufacturing and marketing of auto products. Atlas Group is best known for manufacturing and marketing of motorcycles and cars in collaboration with Honda Motor Company, Japan. It also manufactures various hi-tech components in-house in technical collaboration with leading Japanese components manufacturers including DID. DID is a leading supplier of advanced automotive technology, systems and components for the world’s major auto-manufacturers and has operations in numerous countries around the world.

The venture marks a significant milestone in the collaboration between two Companies as it strengthens an already excellent co-operation between the two partners.

Details of the joint venture company

Company Name: Atlas DID (Private) Ltd. (proposed)
Location: Atlas Industrial Park, Landhi – Karachi
Business scope: Sales and manufacture of motorcycle chains
Capital: 1.2 billion Pakistan rupees(8 million USD /940 million JPY)
Establishment: July 2019(Plan)
Capital contribution ratio: Atlas Autos (Private) Ltd. 60%

Daido Kogyo Co., Ltd. 20%

Daido Sittipol Co., Ltd. 20%

 

Future Outlook

Start mass production: October 2019
Integrated Production: May 2021
Employees: 180 persons
Production capacity: 2 million chains (2019)

Technical Collaboration Agreement with Toyo Denso Co. Ltd.

Technical Collaboration Agreement with Toyo Denso Co. Ltd.

April 26, 2019

Atlas Autos proudly announces that it has entered into a technical collaboration agreement with M/s Toyo Denso Co. Ltd. on April 26, 2019 for manufacturing of ignition coils for Honda Motorcycles.

Toyo Denso is one of the most well-established manufacturers of automobile components across the globe and renowned for its quality and reliability, driven by state-of-the-art technology. We are confident that technical support of Toyo Denso will enable Atlas Autos to further its mission to provide high quality, reliable, safe and cost competitive products to its customers.

Inauguration of D.I.D. Assembly Plant in Pakistan

Inauguration of D.I.D. Assembly Plant in Pakistan

October 29, 2018

KARACHI, Pakistan ― On Monday, October 29, 2018, Atlas Autos (Private) Limited, an Atlas Group Company, held an inauguration ceremony of D.I.D.’s assembly plant at its factory located at 15th Mile National Highway, Landhi, Karachi. The Company will now assemble Chain Drives and CAM chains for Honda motorcycles under a Technical Collaboration with DAIDO Kogyo Co. Ltd., Japan known as a technical innovator in the chain drive market.

Mr. Aamir H. Shirazi, President Atlas Group, Mr. Hirofumi Araya, Vice President DAIDO, and Mr. Yuji Tokita, Councilor for Economic Affairs – Japanese Embassy were the Chief Guests of the inauguration ceremony.

Atlas Autos (Private) Limited and DAIDO Kogyo Co. Ltd. also entered into a Memorandum of Understanding (MoU) to study and establish a new Joint Venture in Pakistan. The agreement will strengthen the already close co-operation between Atlas Group and DAIDO with the goal to manufacture quality competitive motorcycle parts in the country. The signing ceremony was held at Atlas Industrial Park, 15th Mile National Highway, Landhi, Karachi where Mr. Suhail Ahmed, CEO Atlas Autos (Private) Limited, and Mr. Hirofumi Araya, Vice President DAIDO Kogyo Co. Ltd. inked the MoU.

The new Company will utilize Atlas Group’s abundant business expertise in the country and DAIDO’s technologies for motorcycle chains, to produce products that meet the market needs in Pakistan. The venture will mark a significant milestone in the collaboration between two Companies as it cements an already excellent co-operation between the two partners.

Atlas Oil Launching at D.I Khan

Atlas Oil Launching at D.I Khan

January 21, 2018

Grand Atlas Oil launching event at D.I khan. General Manager Atlas Lubricants and National Manager joined in the Mega event. More than 400 Retailers and Mechanics participated in the event. “Shafqat Ullah Oil Trader” a distributor of Atlas Lubricants was also launched for PCMO and DEO network.