Metals and Engineering Corporation (METEC)
Metals and Engineering Corporation (METEC) is a Government owned industrial enterprise established under the laws of the Federal Democratic Republic of Ethiopia /FDRE/ by the decree of the council of ministers.
The main aim to establish METEC has been to make a fundamental difference through a lead role in the industrialization of Ethiopia.
METEC is working under a free market norms and standards with special commitments that enable domestic and foreign investors to enjoy partnership and cooperation.
In respect to the aforementioned perspectives, this corporate profile highlights the essence of METEC, the areas where METEC operates in and how METEC works with possible collaborators in the field.
The country of origin
The country which created METEC is the cradle of mankind, where including modern man had immigrated from to different corners of our world.
Ethiopia, the origin of METEC has contributed a number of material and social wealth, inline to those who contributed same in their own manner, to the civilization of mankind.
To mention some material wealth, the ancient engineering and architecture of the building of Yeha, the stele of Axum, the engraved churches of Lalibelaall being sculptured from massive monolitics stones are the manifestation of the trace of ancient civilization and gift to the world.
On top of this Ethiopia has contributed a civilized culture of respect and coexistence, which has been and yet flourishing the respect to diversity of nationalities and religion.
Unfortunately Ethiopia had been drowned into a dark age for more than a thousand and five hundred years and consequently became a deep steeping poor country. Some expressively say "Ethiopia forgotten the world and the world forgotten the peoples of Ethiopia." This saying had expressed the why and what of Ethiopia. No one can be blamed, except Ethiopia itself for being asleep though who in deed exploited the sleepiness of ourselves, to their own advantages shall be considered cowards.
Recently, thanks to the visionary leaders and those who fought for better Ethiopia, we are awakening, awakening from the dark ages of centuries.
The awakening came from the deep understanding of where and why we are and most importantly that we clearly understood it was our weaknesses that drowned us as a nation to forget and be forgotten by the world. So were awakened to learn from the civilization of mankind and allowing the world to join us. On the other hand as we have learnt that our most enemies are poverty and poverty which were allowed for centuries to deprive us, we are in the march to negate the situation where we were suffering from.
We are awakening to make a difference in favor of us in line with creating strong ties with the globe. With such a commitment, these days Ethiopia has become one of the ten fast growing economies in the world, one of the few fast growing non-oil economies.
METEC has originated from such a country to make a difference in its country of origin through a lead role play.
The Purpose of METEC
The establishment of METEC resides on the purposes granted by the decree of the government of the Federal Democratic Republic of Ethiopia as stipulated herein after.
- To design, manufacture, erect and commission manufacturing facilities ,
- To engage in maintenance and overhauling of manufacturing industries,
- To manufacture industrial machineries, capital goods and industrial spare parts ,
- To expand and enhance engineering and technological capabilities through creating partnership for the integration and interfacing industrial resources. ,
- To undertake production, manufacturing, maintenance, overhauling and upgrading of weapons, equipment and parts useful to defense forces for combat and war operation,
- To build technological capabilities of the country's defense forces through identifying existing and potential needs based on research and development ,
- To sell its products of weapons ,equipment's and parts to domestic and overseas buyers in conformity of the law
- In line with directives and policy guideline issued by the ministry of finance and economic development aimed at ensuring macro-economic stability to sell and pledge bonds and negation and sign agreements with local and international financial sources,
- Engage in any other related activities necessary for attainment of its purposes.
The aforementioned purposes of METEC explore a wide range of activities within the framework of those purposes METEC has as specific area of focus which brings all the purposes to the whirlpool of dynamism.
So, the intension of specialization of METEC is to design and develop industrial plants of a paramount importance to the growth of the economy of Ethiopia.
The key resource of METEC is the human resource if has developed in the course of its own performance with highly integrated approach towards continuous education, training job enrichment, problem solving programs, participatory management and team working. On this basis METEC has more than 18,000 full time employees encapsulating very few thousand researcher designers, Engineers and technologists.
The second are of a resource that METEC has developed is a set of manufacturing, engineering, research and production facilities. METEC owns 14 production companies, one research and development center, one capacity building center, one scientific research and engineering instrumentation center, and a number of laboratories.
On top of this, METEC has reached to a billion dollar equivalent turnover in the last seven years with a startup working capital of 15 million USD equivalent working capital seven years ago.
Currently METEC has developed a sustainable set of capabilities across an integrated value chain, as follows.
- Plant design
- Plant equipment production
- Capability building