When Munawar “Micki” Hidayatallah was growing up in India, his grandfather took him for a walk one day and stopped to pick up a penny. He held the coin up and encouraged the young boy to remember that from something so small something big can happen.
Hidayatallah never forgot that lesson, and a few years later, he built the largest newspaper stand in India. Then he bought a plastics company and grew it. Eventually, in 2001, he and a friend launched a drilling company, Oil Quip Rentals Inc.
Oil Quip’s quick success caught the attention of Allis-Chalmers Energy Inc., a venerable energy company that was going through tough times in a challenging marketplace and looking for something to help spark its resurgence.
Allis-Chalmers, which began in 1913, wanted to merge with Oil Quip, and in early 2002, a deal was struck. Hidayatallah was named CEO and didn’t waste any time taking charge.
The enigmatic leader began a systematic review of the company’s assets, initiatives and personnel. He sold off nonperforming assets, accelerated the collection of receivables and reinvested cash in a management team focused on establishing concrete goals and objectives aimed at turning the company around and setting it on a path of sustainable growth.
By the end of the third quarter of 2002, Allis-Chalmers had increased its market share, revenue and profitability.
Today, Hidayatallah runs the third-fastest growing company in America with more than 3,500 employees, and through a combination of organic growth and acquisitions, he has built Allis-Chalmers’ into a publicly held, multifaceted oil field services company with operations around the world.
How to reach: Allis-Chalmers Energy Inc., (713) 369-0550 or www.alchenergy.com