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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.
Cool Industries (Pvt) Limited, the owner of the WAVES brand of consumer appliances, was established in 1971 by a family of entrepreneurs from Lahore. Within a span of four decades, the Company became a household brand in the country. The Company’s history is filled with many milestones. Back in 1976, it started the production of refrigerators. By 2002, the Company had become the sole producer of Split Air Conditioners in Pakistan. The Company started producing Microwaves in 2003, under an agreement with GALANZ, a Chinese company. The product take-off was impressive, thanks to product durability. The production of Washing Machines started in 2004, when Waves pioneered single- tub and double-tub washing machines in this market. The Company continued its growth path until 2015, when a tough competitive landscape and succession issues within the sponsors family created many bottlenecks in the smooth operations of the Company. Subsequently, the Company was acquired by the sponsors of Singer Pakistan Limited.
Upon approval of the regulatory and legal formalities, both Companies have been merged into a single company, with the surviving Company being named as Waves Singer Pakistan Limited.