January 31, 2008 -- ISLSMABAD, Pakistan, Jan 31 Asia Pulse - Pakistan's Privatisation Commission has extended the last date to Feb 7 2008 for investors to submit Expressions of Interest (EOI) to acquire a minimum of 90% shares of the Pakistan Machine Tool Factory (Pvt.) Ltd. (PMTF).

The offer is extended to companies or consortia engaged in manufacturing or engineering business which can demonstrate the ability to own and efficiently manage and operate the company.

Earlier, the date for submission of EOI was January 22, 2008.

Interested parties have been asked to submit an EOI in duplicate, together with a non-refundable processing fee of US$5,000 or PKR 300,000/.

All the parties which submit EoIs will be sent a Request for Statement of Qualification (RSOQ) inviting a Statement of Qualification (SOQ), which shall form the basis of pre-qualification and the last date to receive RSOQ is now February 29, 2008.

The Pakistan Machine Tool Factory (Private) Limited (PMTF) is a unit of the 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 started commercial production in 1970 and obtained ISO 9001:2000 certifications 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.

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.

(PPI)

Source: Asia Pulse