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FF Steel

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FF Steel
Frontier Foundry Steel (Private) Limited
Private
ISIN🆔
IndustrySteel
Founded 📆1986
Founder 👔Nauman Wazir Khattak
Headquarters 🏙️Peshawar, Pakistan
Number of locations
2 plants (2021)
Area served 🗺️
Pakistan
Key people
Zarak Khan Khattak (CEO)
Fayyaz Jarral (CFO)
Products 📟 Steel rebars
Production output
1,400 metric tonnes per day (2021)
Members
Number of employees
🌐 Websitewww.ff.com.pk
📇 Address
📞 telephone

FF Steel also known as Frontier Foundry Steel (Private) Limited is a Pakistani company which manufactures steel rebars. Its headquarters are based in Peshawar.[1][2] Incorporated in 1986, it produces grade-60 steel bars at its plants in Peshawar and Lahore,[3] and ranks amongst the top three rebar manufacturers in Pakistan.[4]

It has been awarded the ISO 9000, ISO 14000 and ISO 18001 certifications, and a license to manufacture the international standard ASTM 615-Grade 60 steel.[5]

History[edit]

FF Steel was founded by Nauman Wazir Khattak in Peshawar in 1986.[6]

In 2007, the company became the first company in Pakistan to produce Grade 60 ASTM 706 steel bars. In February 2007, FF Steel started production of Pakistan's first thermo-mechanically treated (TMT) steel bars, which are earthquake-resistant.[7] The company's second plant became operational in Lahore in November 2017.[8] FF Steel had a total of two production plants, one in Peshawar and the other in Lahore.[9]

On 11 January 2021, it attained the ACCA Approved Employer status from Association of Chartered Certified Accountants (Pakistan).[10] In July 2021, it became the first company to launch a franchise network in Pakistan, with the branches initially planned to be set up in Lahore, Jhelum, Nowshera, Tarnol, and Faisalabad.[11]

On 18 November 2021, the company, in collaboration with NUST and NESPAK, launched the first-ever Grade-80 steel bar in Pakistan.[12]

Initial Public Offering[edit]

On 27 September 2021, the company announced it will raise Rs. 9 billion by selling 25% of its shares through an IPO, which would be the largest private-sector IPO in Pakistan's history. It hired a financial advisory consortium comprising of Habib Bank Ltd., Bank Alfalah, AKD Securities, and Alfalah CLSA Securities for this purpose.[13][14] Proceeds from this IPO will be used to construct a third plant in Karachi[15]

Corporate Social Responsibility (CSR)[edit]

In 2017, the company launched a CSR campaign titled “Safer and Stronger Pakistan”.[5] As part of this initiative, it partnered up with Khyber Pakhtunkhwa Technical Education and Vocational Training Authority (TEVTA) in December 2020 to impart competency-based training among the students of Pakistan.[16][17]

References[edit]

  1. "The ceremony was held in FF Steel's head office, Peshawar". Business Recorder.
  2. "Ff Steel Re-rolling Mill is listed in Steel & Iron, and located in Peshawar Pakistan". Urdu Point.
  3. "FF STEEL holds ceremony". The Nation. 2019-06-15. Retrieved 2022-01-19.
  4. Report, Recorder (2021-09-28). "FF Steel to be listed on PSX". Brecorder. Retrieved 2022-01-19.
  5. 5.0 5.1 "FF Steel awards 30 trophies to workers". Daily Times. 2017-04-23. Retrieved 2022-01-19.
  6. "Signing ceremony held for listing of FF Steel on PSX". The Nation. 2021-09-28. Retrieved 2022-01-19.
  7. "Re-rolling mills given three years to produce TMT bars – Business Recorder".
  8. "FF Steel achieves financial closure through syndication – Business Recorder". Retrieved 2022-01-19.
  9. "Process of expanding". dailytimes. Newspaper. 23 April 2017.
  10. "ACCA felicitates FF Steel". Business Recorder. 11 January 2021.
  11. Report, Bureau (2021-07-06). "FF Steel launches franchise network". DAWN.COM. Retrieved 2022-01-19.
  12. "Grade-80 steel bar will boost construction industry, contribute to wealth creation: Shibli". The Nation. 2021-11-19. Retrieved 2022-01-19.
  13. "FF Steel to list on Pakistan Stock Exchange | Metal Bulletin.com". www.metalbulletin.com. Retrieved 2022-01-19.
  14. Report, Recorder (2021-09-28). "FF Steel to be listed on PSX". Brecorder. Retrieved 2022-01-19.
  15. "FF Steel set for Pakistan's largest-ever private sector IPO as CPEC escalates demand for high-quality steel rebars". gwadarpro.pk. Retrieved 2022-01-19.
  16. Report, Recorder (2020-12-21). "FF Steel, KP-Tevta sign MoU". Brecorder. Retrieved 2022-01-19.
  17. Report, Recorder (2021-10-25). "FF Steel imparts specialised training to 30 students". Brecorder. Retrieved 2022-01-19.


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