Wednesday Dec 07, 201101:39 PM GMT
IKCO, Iran's richest industrial company
Wed Dec 7, 2011 1:41PM
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Iran Khodro's Samand model
Iran Khodro Co. (IKCO), with an asset of over USD 30 billion, is dubbed the most prosperous Iranian industrial company, a financial statement shows.


According to the statement released by the Iranian Industrial Management Institute (IMI), IKCO ranks first among the 300 top Iranian companies.

IMI classifies the companies based on their financial statements and in accordance with various indicators. One of the parameters measured for the purpose is the company's asset.

As the statement says, in its annual ordinary general meeting for fiscal year that ended on March 20, 2011, the Iranian top car maker paid USD 210 million to its shareholders.

The figure was 301 percent higher than the previous year-end dividend and hit a record high among Iran Khodro Co. domestic rivals.

Following IKCO, stand Iran Power Plant Projects Management Co. (MAPNA) and Saipa Automotive Manufacturing Group as the second and third richest companies with assets higher than USD 7 billion.

IKCO, founded in 1962, is currently regarded as the biggest automaker in the Middle East. The company broke its monthly production record by producing 75,871 cars in November, 2011.

The Iranian company won an award from Tehran's Third International Nanotechnology Festival in 2010, as the leading company in nano-related auto industry.

MR/PKH
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