Wave-Singer receives Rs1.44 bn order from Coca Cola

Wave-Singer receives Rs1.44 bn order from Coca Cola

KARACHI: Wave Singer Pakistan Limited has received a corporate order worth around Rs1.44 billion from Coca-Cola, according to information shared with Pakistan Stock Exchange (PSX) on Tuesday.

The company said that for the second consecutive year since its approval as a manufacturer for the supply of Coca-Cola branded Freezers, Waves Singer Pakistan has secured the largest corporate order from Coca-Cola.

For fiscal year 2022, WSPL has received order for supply of 25,000 units of chest coolers and visi coolers worth around Rs1.44 billion.

Last year, the company obtained orders for 22,850 units of chest coolers and visi coolers worth Rs944 million from Coca- Cola after approval of the factory consequent to detailed audits.

Waves Singer Pakistan Limited has become a merged company with the acquisition of Cool Industries (Pvt) Limited by Singer Pakistan during 2017. After the approval of the Scheme of Merger by Sindh High Court, the combined company has acquired the name of Waves Singer Pakistan Limited.

Singer’s history dates back to 1850, when Isaac Merritt Singer manufactured the first ever sewing machine in Boston, USA. I. M Singer & Company was duly incorporated during the same year.

The name of the company was changed to Singer Manufacturing Company during 1853 when the factory of the Company was also relocated to New York, USA. Singer established its presence in the Indian sub-continent during 1877.

Over the years, and after the independence of Pakistan, Singer continued its business of sewing machines in the country, but also started dealing in domestic consumer appliances, besides manufacturing and assembling light engineering products. In 1985, the Company became a public listed company.

Singer Pakistan’s retail network has 140 shops in Pakistan alone, and covers every small town and metropolitan city of the country. Under the Singer brand, the Company produces a variety of consumer appliances-including refrigerators, air conditioners, LED TVs, washing machines, microwave ovens, in addition to its more traditional offerings of sewing machines, water heaters and gas ovens etc.