Lucky Core Industries
A Pakistani diversified industrial company producing chemicals, polyester, pharmaceuticals, agricultural inputs, and animal-health products.
Last updated August 22, 2026
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Overview
Lucky Core Industries Limited is a diversified Pakistani industrial company headquartered in Karachi. The business was formerly known as ICI Pakistan and traces its manufacturing history to a soda-ash operation established at Khewra in the 1940s. Its portfolio now combines large-scale basic chemicals with specialty chemicals, polyester, pharmaceutical manufacturing, agricultural products, and animal-health solutions. The company’s earliest industrial base was the Khewra soda-ash plant in Punjab. The location was selected because the surrounding salt range provided access to rock salt and limestone, important inputs for soda-ash production. Commercial production began in 1944 at an initial capacity of approximately 18,000 tonnes per year. After the creation of Pakistan in 1947, the operation became part of the country’s developing chemical industry and was associated with ICI Pakistan. In its early decades, the company also operated a substantial trading and distribution business, importing chemicals and industrial materials from international suppliers and repackaging or distributing them to customers across Pakistan. From the 1960s onward, ICI Pakistan increasingly localized management and diversified beyond soda ash. It established textile-auxiliaries operations, expanded the Khewra works, entered paints and pharmaceuticals, and developed polyester production near Sheikhupura. The polyester-staple-fibre facility, commissioned in 1982, helped supply Pakistan’s textile industry and became one of the company’s important manufacturing platforms. The company also developed captive power-generation capability at Sheikhupura and consolidated several operating entities in 1987. A major later expansion was the construction of a purified-terephthalic-acid facility at Port Qasim. The project was established in the 1990s to support Pakistan’s textile chain and began production in 1998. It was subsequently separated into Pakistan PTA Limited in 2001. The company’s ownership and corporate structure changed again after AkzoNobel acquired the global Imperial Chemical Industries group in 2008. In 2012, ICI Pakistan’s paints activities were separated from its remaining chemical, polyester, pharmaceutical, and animal-health operations. The continuing ICI Pakistan business was then acquired by Yunus Brothers Group for a reported US$152 million, although this transaction value is not treated here as a current financial figure. The company adopted the name Lucky Core Industries in 2022, aligning it with the broader Lucky Group identity. Its current activities include soda ash and sodium bicarbonate, polyester staple fibre, general and specialty chemicals, crop-protection products and seeds, pharmaceutical manufacturing, and animal-health products. Its pharmaceutical manufacturing footprint includes the Cirin Pharmaceuticals facility in Hattar and the former Wyeth/Pfizer manufacturing site at Hawke’s Bay Road in Karachi. In 2024, the company acquired Pfizer Pakistan’s sole manufacturing facility in Pakistan, expanding its local pharmaceutical manufacturing capacity. Lucky Core serves industrial and consumer-linked value chains including glass, textiles, construction materials, paints, pharmaceuticals, food and beverages, detergents, personal care, footwear, agriculture, livestock, and poultry. Its Khewra soda-ash operation is described as supplying a substantial share of Pakistan’s domestic soda-ash requirement. The company combines local manufacturing and raw-material sourcing with imported products, technical partnerships, and distribution arrangements. As an operating company within the Lucky Group, it remains an important Pakistani producer of industrial and life-science-related goods.
History
Lucky Core Industries’ industrial history begins with the Khewra Soda Ash Company, established in 1944 at Khewra in Punjab. The site was strategically located near the Khewra salt range, where rock salt and limestone were available for soda-ash production. Construction activity had begun before the Second World War but was disrupted when a vessel carrying essential equipment was torpedoed. The facility eventually entered commercial production with an initial annual capacity of about 18,000 tonnes and became part of the Alkali Chemical Corporation of India before the partition of British India. Following Pakistan’s independence in 1947, the operation was incorporated and developed within the ICI Pakistan structure. During the 1950s and 1960s, the company operated both a soda-ash manufacturing business and a broad chemical-trading operation. It imported products from overseas suppliers, repackaged bulk materials, and distributed chemicals through offices and distributors serving customers throughout Pakistan. The company was listed on the Karachi Stock Exchange in July 1957. The 1960s marked a shift toward Pakistani management and wider industrial diversification. In 1965, Y. M. Khan became the first Pakistani chairman of ICI Pakistan. Under subsequent expansion programs, the company established textile-auxiliaries production, expanded the soda-ash works, entered pharmaceuticals, and acquired the Fuller Paints factory in Lahore, which was later associated with the Paintex business. It also explored a proposed naphtha-cracker venture with the Fauji Foundation, although that project was not completed. ICI Pakistan continued to broaden its manufacturing base during the 1970s. A polyester-staple-fibre plant was developed near Sheikhupura and began production in the early 1980s, creating a local source of fibre for Pakistan’s textile industry. A captive power plant, ICI Power Gen, was also established at the Sheikhupura site. In 1987, Paintex Limited, ICI Pakistan Manufacturers Limited, and Imperial Chemical Industries Limited were merged into a single corporate entity. The company later invested heavily in purified terephthalic acid, a key intermediate for polyester production. A facility at Port Qasim was established in the 1990s and commissioned in 1998. The project was intended to strengthen the domestic textile value chain and benefited from government tariff incentives. In 2001, the PTA business was separated into Pakistan PTA Limited, which became a distinct listed company. Corporate ownership changed after AkzoNobel acquired the global Imperial Chemical Industries group in 2008. In 2012, the Pakistani activities were reorganized: the paints operations were placed in AkzoNobel Pakistan, while the remaining ICI Pakistan business retained soda ash, polyester, pharmaceuticals, and animal health. Later that year, Yunus Brothers Group acquired the continuing ICI Pakistan business from AkzoNobel. This transaction moved the company into the ownership structure associated with the Lucky Group. The company was renamed Lucky Core Industries in 2022. Its post-renaming portfolio consists of soda ash and related products, polyester staple fibre, chemicals and agri-sciences, pharmaceuticals, and animal health. The soda-ash division remains based at Khewra and has expanded substantially from its original capacity. The pharmaceutical business includes the Cirin Pharmaceuticals facility at Hattar and the manufacturing site on Hawke’s Bay Road in Karachi, acquired from the Pakistani operations of Wyeth and subsequently associated with Pfizer. In May 2024, Lucky Core acquired Pfizer Pakistan’s sole manufacturing facility in Pakistan. Today, Lucky Core operates as a diversified industrial manufacturer and distributor serving Pakistan’s glass, textile, construction, chemical, pharmaceutical, agriculture, livestock, and poultry sectors. Its business model combines large local plants, imported and locally sourced inputs, technical relationships with international companies, and distribution capabilities. The company’s development reflects the evolution of Pakistan’s industrial economy from import trading and basic chemicals toward integrated manufacturing and specialized life-science and agricultural products.
- 2024
Pharmaceutical manufacturing expansion
[1]Lucky Core acquires Pfizer Pakistan’s sole manufacturing facility in Pakistan.
- 2022
Company adopts the Lucky Core Industries name
[1]ICI Pakistan is renamed Lucky Core Industries.
- 2012
Pakistani operations are reorganized and sold
[1]The paints activities are separated from the continuing ICI Pakistan business, which is subsequently acquired by Yunus Brothers Group.
- 2008
AkzoNobel acquires global ICI
[1]AkzoNobel acquires Imperial Chemical Industries, changing the ultimate ownership context of ICI Pakistan.
- 2001
PTA business is separated
[1]The purified-terephthalic-acid operation is demerged into Pakistan PTA Limited, a separate listed company.
- 1998
Port Qasim PTA facility begins production
[1]The company commissions its purified-terephthalic-acid facility at Port Qasim to support Pakistan’s polyester and textile chain.
- 1987
Operating companies are consolidated
[1]Paintex Limited, ICI Pakistan Manufacturers Limited, and Imperial Chemical Industries Limited are merged into one entity.
- 1982
Polyester staple-fibre plant is commissioned
[1]A 12,000-tonne-per-year polyester staple-fibre plant begins production near Sheikhupura.
- 1965
First Pakistani chairman
[1]Y. M. Khan becomes the first Pakistani chairman of ICI Pakistan, during a period of increased local management and diversification.
- 1957
Listing on the Karachi Stock Exchange
[1]The company is listed on the Karachi Stock Exchange, reflecting the growing scale of its Pakistani manufacturing and trading operations.
Products and positioning
A diversified Pakistani industrial-solutions provider combining domestic manufacturing, chemical distribution, pharmaceutical production, and agriculture and animal-health technologies.
Basic chemicals · 1944
Soda ash and sodium bicarbonate
The Khewra business produces soda ash for industries such as glass, detergents, chemicals, and construction materials. The operation also produces dense soda ash and refined sodium bicarbonate. It uses the local availability of salt and limestone and represents the company’s longest-running manufacturing platform.
Textile materials · 1982
Polyester staple fibre
Lucky Core’s polyester business originated with the Sheikhupura plant commissioned in 1982. Polyester staple fibre is supplied to textile and other manufacturers and can be used in apparel, bedding, industrial materials, and automotive-related applications.
Industrial chemicals
General and specialty chemicals
The chemicals business combines manufacturing, imports, trading, and distribution. Its products serve sectors including power generation, cement, textiles, paints, pharmaceuticals, personal care, food and beverages, solvents, detergents, footwear, and household appliances. The portfolio includes general chemicals, specialty chemicals, and polyurethane-related materials.
Agricultural products
Agricultural inputs
The agri-sciences business supplies agricultural products ranging from seeds to pesticides and other crop-protection inputs. It supports crop production through product distribution and relationships with international technology and input providers.
Pharmaceuticals
Pharmaceutical products
The pharmaceutical business manufactures and distributes products across areas including anti-infectives, sterile liquid injectables, oral solid dosage forms, antivirals, analgesics, gastroenterology, intensive care, and anxiolytics. Manufacturing is associated with facilities at Hattar and Hawke’s Bay Road in Karachi.
Veterinary medicine and nutrition
Animal-health products
The animal-health business serves livestock and poultry markets with anthelmintics, antiprotozoals, antibacterials, restoratives, udder-health products, disinfectants, nutrition products, biologicals, and breeding-related services. It has worked with international animal-health, nutrition, genetics, and vaccine companies.
Brand decisions
2024
Acquisition of Pfizer Pakistan’s manufacturing facilityM&ABackground
Lucky Core sought to expand its pharmaceutical manufacturing footprint in Pakistan.
Action taken
The company acquired Pfizer Pakistan’s sole manufacturing facility in the country.
Aftermath
The transaction expanded Lucky Core’s local pharmaceutical production platform.
2022
Corporate rebranding as Lucky Core IndustriesStrategyBackground
The company had operated under the ICI Pakistan name after its acquisition by Yunus Brothers Group.
Action taken
The company changed its name to Lucky Core Industries to align its identity with the Lucky Group.
Aftermath
The renamed company continued its chemicals, polyester, pharmaceutical, agri-sciences, and animal-health activities.
2012
Acquisition by Yunus Brothers GroupM&ABackground
After AkzoNobel acquired Imperial Chemical Industries, the Pakistani business was reorganized and its continuing chemicals, polyester, pharmaceutical, and animal-health operations were separated from the paints business.
Action taken
Yunus Brothers Group acquired the continuing ICI Pakistan business from AkzoNobel.
Aftermath
The company became associated with the Lucky Group and later adopted the Lucky Core Industries name.
Reported transaction value. US$152 million (2012 transaction)
2001
Separate the PTA business into Pakistan PTA LimitedStrategyBackground
The Port Qasim purified-terephthalic-acid operation had been developed to support Pakistan’s textile chain and began production in 1998.
Action taken
The PTA business was demerged into Pakistan PTA Limited, creating a separate listed company.
Aftermath
The separation made PTA a distinct corporate activity rather than part of the continuing ICI Pakistan portfolio.
Recent events
- 2024
Lucky Core acquires Pfizer Pakistan manufacturing facility[1]
M&A
Lucky Core Industries acquired Pfizer Pakistan’s sole manufacturing facility in Pakistan, strengthening its domestic pharmaceutical manufacturing platform.
- 2022
ICI Pakistan is renamed Lucky Core Industries[1]
Other
The company adopted the Lucky Core Industries name after operating for many years as ICI Pakistan, reflecting its ownership and alignment with the Lucky Group.
Sources2 sources
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