Azerbaijan, Baku, Feb. 22 / Trend, A.Yusifzade /
The Middle-East's largest carmaker, Iran-Khodro Company (IKCO), was elected as Iran's best company in the 13th Conference of Iran's Top 100 Companies (IMI 100), FNA reported.
IKCO Chief Executive Officer Javad Najmeddin received the conference trophy.
IKCO was also awarded for the highest level of sales, job creation and profitability.
During the conference, Industrial Management Institute evaluated companies on the basis of their economic indices, specially their sales. Having sold $11.7 billion worth of products in 2009, IKCO ranked first among Iran's top 300 companies.
Regarding entrepreneurship, IKCO with 60,338 personnel ranked first.
Considering profitability, IKCO was recognized as Iran's second company earning $1.06 billion, while it ranked the seventh in this section last year.
According to the 13th Conference of Iran's Top 100 Companies report, SAPCO, IKCO's Supplying Automotive Parts Co. ranked fourth with $61 billion of sales.
Regarding total assets, IKCO lies among Iran's top 10 companies, the report said.
IKCO is the largest car manufacturing company in not just Iran but also the Middle-East. The company produced over 680 thousand cars in 2009.
Iran's IMI 100 is held by Industrial Management Institute of Iran and is the only ranking entity in Iran, which can be compared with the international ranking of Fortune 500 introducing 500 top companies in the world.
IMI 100 evaluates governmental and private companies and organizations based on 23 financial parameters, while at the same time companies from the same sector as carmakers, banks or food industries find a chance to vie with each other on the basis of the relevant criteria of their given sectors.
Iran Khodro Industrial Group has marketed more than 550,000 various types of vehicles during the past 9 months of current Iranian calendar year (started March 21, 2010) and this show 20 percent increase considering the same period last year.
IKCO plans to boost its annual production to over 1 million cars by 2014, as part of the company's grand strategic plan. The plan also includes increasing this figure to over 1.5 million by 2025 and exporting 16 percent and 30 percent of that figure respectively. The company also aims to design and develop at least five new products including M59 van, Runna, NX7, NX8 and Samand pickup on improved platforms by 2014.