Egypt, new dimensions, new frontiers

Eng. Salah Diab, Chief Executive Officer

Interview with Eng. Salah Diab ,
Chief Executive Officer
Read our exclusive interview

Egypt -

Eng. Salah Diab,
Chief Executive Officer
3, Shagaret El-Dor street, Zamalek
Tel: (202) 340 40 91
        (202) 83 08
Fax: (202) 202-341 24 09
Company profile

Starting from a small apartment and eight employees, PICO has grown to have over 2000 employees who work in the major commercial growth areas in Egypt.

PICO group is today 25 years old and is one of the leading private sector consortiums of companies engaged in multi activities.

PICO Corporate Strengths

All PICO's trials and errors over the past years gave PICO its corporate culture, built on the following axioms:


PICO is a company that first visualizes a goal and then sets an action plan to achieve it. By following this process PICO maximizes its strengths and strengthen its weaknesses.

Network of connections

PICO values the key relationships that it makes in the course of its daily business. These relationships are with its suppliers and its customers, both inside and outside government. PICO considers these relationships as its most important asset.

Balance of Business

PICO is highly diversified with a spectrum of businesses which include agriculture, petroleum, real estate, investment, machinery sales and food industry. This provides reduced exposure against the downturn in any certain sector.

Financially Engineered

Because of our diverse business sectors, PICO has three different type of cash flows:

The first is foreign currency provided by crude oil sales, agricultural exports and petroleum services.

The second is large local currency cash flows provided through real estate and industrial machinery sales, and the capital market.

The third is from our food business which gives PICO the shortest financial cycle (one day).


Innovation & Pioneering

Following the statement that "As too much coincidence could be no coincidence", PICO has produced a number of "firsts":

-The first Egyptian company to be involved in the oil service business with all the world majors (1974)
-The first Egyptian company to have concession acreage and oil producing fields (1992)
-The first Egyptian originator of a chain of premium pastry shops (1975)
-The first Egyptian privately owned tissue culture lab (1990)
-The first Egyptian company to develop the technology and introduce new varieties planted in desert land for the first time in Egypt
-The first Egyptian company to chose and acquire locations that were previously untapped in real estate
-The first Egyptian company not to export what they grow what could be exported

Brand Name

The PICO brand name is well established in the local market as well as in many regional markets and outlets This trademark has come to symbolize quality. It is PICO's plan to further utilize the values of its trademark.

La Poire Touristic

La Poire Touristic Enterprise was founded in 1975 as the first Egyptian pastry chain and continues to be the market leader today. It opened its first pastry shop in Garden City. Soon, it acquired an excellent reputation in the market and gained a big portion of it. La Poire decided to open its second showroom in Mohandessin thereby pursuing its goal, of not only being Egypt's best, but also Egypt's largest pastry chain.

Today, La Poire has already set-up over 23 different outlets and 4 factories. Increased demand and a successful franchise program gives an indication of how respected and well known La Poire brand name is.

PICO Agricultural Co.

While supplying domestic demand, this company focuses on filling a certain niche in the European market. PICO does this by timing its production to hit the markets when it is a sellers market.

PICO performs plant propagation in Egypt's first privately owned tissue culture laboratory as well as in green house and open field nurseries.

PICO was the first to plant banana crops in the desert and grew asparagus for the first time in Egypt.

PICO changed strawberry plants from being imported to now being exported and it designs and implements turn key agricultural projects for plantation orchards and other crops.

PICO is in contact with the most advanced research institutes all over the world, and has its own test fields for variety production and cultivation techniques, with importance given to constant IMP and biological control.

PICO is growing to include the production of herbs and ornamental plants.

PICO has developed fertigation which is a combination of fertilization and irrigation.

PICO's marketing and sales departments regularly supply the European and Gulf markets with first class products. In addition, PICO distributes to supermarket chains worldwide.

This is done by over 1000 employees with know how working 4000 acres of land, covering all areas of agriculture in Egypt and being led by skilled management teams.

Turf Division / PICO Green.

This division was set up to satisfy the luxury agricultural market by offering complete landscaping solutions for golf courses, hotels, resorts, residential complexes, parks, sport fields and private gardens.

PICO has provided turf to many of the golf courses set up all over Egypt including the ever famous Katameya.

Landscaping experience covers all aspects of landscaping projects on any scale including both hardscape (water features, paths, etc.) and softscape elements (plants, flowers, grasses).

The long term standing as one of Egypt's most advanced private sector agriculture enterprises placed PICO on the turf scene from the outset of the boom in up-scale development.

Twelve years of experience in cultivation and irrigation, in addition to affiliation with Rainbird, make PICO, Egypt's top surf services company.

PICO Real Estate

PICO Real Estate is built on a strategy where location is an integral part of development planning.

The first choice of this company is to secure locations that can be developed later in many different ways.
For a location to be successful, location is the key. That is why PICO Real Estate has acquired significant locations in Manial Sheha which looks right upon the Nile and 20,000,000 sqm in west Cairo which is 15 minutes from the city center and is accessible by 3 major roadways.

PICO owns and operates office buildings in key locations for its own use and for third parties.

PICO Investments

PICO investments is one of the youngest companies in the PICO corporation. Although it has a short history, it has proven to be a great added feature with great upside potential.

PICO investments is a significant share holding participant in large projects and enterprises such as EBB, Sunset Hills and CIIC.

The goal of this company is to diversify and to create greater financial stability.

PICO Engineering Company

Industrial Equipment

For 18 years now, PICO has been the sole dealer for Ingersoll Rand and distributor of its high quality, durable and versatile equipment.

PICO dominates the local market for compressed air stations with thousands of installations for a variety of small medium and large industrial applications. This includes power generation, automotive, petroleum, cement, iron, steel and textile plants.

Construction Equipment

The division supplies construction cranes, fork lifts and other construction equipment by some of the most respected names in the business that include Link Belt, Sumitomo, Thomassen, etc.

PICO has supplied both public and private sector industries with over 1000 cranes for use in a variety of applications including mobile crawler, pedestal overhead, tower and side boom cranes.


PICO works closely with the Egyptian National Railway Authority in its effort to upgrade the national railway system.

PICO is the spare parts supplier for 90% of ENR's locomotives, with some 900 units. It is also responsible for the overhaul of 60 units ; all in its role as sole representative for general Motors Electromotive Division in Egypt.

Fire-Protection and Electro-Mechanical Installations

The division is concerned primarily with the installation and maintenance of fire protection and safety systems. It also handles electro-mechanical installations for buildings and factories including lighting networks, closed circuit video systems, air-conditioning and plumbing.

PICO represents the SES-ENSER group from Italy for fire and gas detection for industrial and commercial applications.


In the field of oil production and field development, the world is familiar with the majors such as Exxon, Shell, BP, etc... However, smaller independent companies have emerged to manage fields and oil ventures of smaller magnitude and less risk probabilities.

PICO Oil is the first Egyptian private sector producer of oil.

PICO currently operates the Gemsa, Amal, Osoco and South Ramadan fields, which were small producing oil fields managed previously by Shell, Total and Agip.

PICO created commercial success by reducing expenses and increasing production through new technology.

PICO Petroleum Services

This company provides the services required to explore, drill, and produce oil and gas wells.

PICO is associated in joint ventures and service agreements with Halliburton, Hughes-Christensen, BJ Services, EVI-Weatherford, Tuboscope-Vetco, Baker Inteq, Houston Engineers, Swaco, T.D., Williamson, TIW, Hydrotech, among many others.

It provides certain drilling tools as well as full camp facilities within each major oil producing area in Egypt. It is proud to have been certified as a ISO 9002 supplier in 1997.

Key Developments

PICO is preparing itself structurally to grow as the national economy undergoes dramatic expansion.

The PICO 2100 program that is now being implemented aligns all of the company resources:

-Human resources

-Technological resources

-Financial strengths

-Accumulated management skills.

The PICO 2100 program is a method of organizational development to establish better business practices. This will prepare the company for the demands and opportunities of the 21st century. These practices are based on the Business Excellence Model as established by the European Foundation for quality Management.

The key attributes of this process, in the pursuit of the continuous improvement in search of excellence are:

-Use of an internationally recognized model which is itself continually reviewed for relevance and applicability.

-Objective comparison of an organization's performance against that model, through self analysis and assessment.

-Development of the ongoing improvement plans and actions which can be implemented and their success monitored

-Use of the output and later, outcomes of the process for comparison purposes with organizational units or other organizations (the process known as benchmarking) to ascertain the best practitioners in each area/activity/process and to learn thereby.

With an aggressive growth strategy, PICO finds itself occupied with defining its objectives, setting its priorities and action plans for execution and devising methods to measure its progress.

PICO is confident that the PICO TEAM has its eyes clearly focused on the next 25 years.

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© World INvestment NEws, 2000.
This is the electronic edition of the special country report on Egypt published in Forbes Global Magazine.
August 7th 2000 Issue.
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