M. I. Cement Factory Ltd., the parent company of Crown Cement Group, is one of the leading manufacturers of cement in Bangladesh. M. I. Cement Factory Ltd. is a public limited company that commenced its adventurous journey in Bangladesh with the dedication of providing high quality cement to the country on December 31, 1994.
Initially, the plant was installed with a producing capacity of 600tpd (ton per day) Portland cement. As time passed, demand for Crown Cement increased day-by-day. By dint of quality soon, Crown Cement gained reputation and acceptability home and abroad. So, the sponsors expanded the project four times.
The 2nd unit started in 2002 with a production capacity of 800tpd, the 3rd unit in 2006 of 1,400tpd, 4th unit in 2011 of 3,000tpd and the 5th unit in 2017 of 5,200tpd to take the total production capacity to 11,000tpd i.e. 3.3 million metric ton per annum.
The Company has been listed on Dhaka and Chittagong bourses in 2011 through initial public offering (IPO) by using the “book-building” method in an effort to make a contribution to the development of the capital market. Its high growth agenda have highly been appreciated by the shareholders and have won the investors’ confidence. As of 23 Feb 2022, the company has been renamed to Crown Cement PLC and will be traded as CROWNCEMNT instead of MICEMENT.
The Company’s backward and forward integration endeavors have given new dimensions to its growth platform. With this end in view, the associate industrial units such as Crown Polymers Bagging Ltd., Crown Power Generation Ltd., Crown Mariners Ltd., Crown Maritime & Shipping Services Ltd., Crown Transportation & Logistics Ltd. and Crown Cement Concrete & Building Materials Ltd. have been set up and are in operation.
It has also acquired four handy max size ocean going ship to facilitate transportation of raw materials from abroad. It is hopefully expected that these new growth platforms will facilitate creation of new dimensions and frontiers to the mother company M. I. Cement Factory Ltd.
Crown Cement pioneered in cement export in 2003 and paved the way for earning hard-earned foreign currency. It is the largest cement exporter in Bangladesh with around 50% market share of the cement export from Bangladesh. The major export market of Crown Cement is the northeastern states of India including Tripura, Meghalaya and eastern and western region of Assam.
The company has achieved National Export Trophy for the fiscal years 2008-09, 2009-10 and 2013-14 for its extraordinary contribution to the country’s economy through foreign currency earnings. Crown Cement is the only company that has won the National Export Trophy three times in the history of cement export in Bangladesh.
The registered office of the Company possesses well communications facility both through water and road. It is located at West Mukterpur, Munshiganj on the bank of the river Dhaleswari. It is connected by a metalled road (Dhaka-Munshiganj Highway) linked with the whole country.