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Artson Engineering Ltd. Company History and Annual Growth Details

1978 - The Company was incorporated on 18th September, as a private
limited company and was converted into a public limited company
on 22nd September 1986.

- It was promoted by N.K. Jagasia, K.B. Kakatkar and P.S. Chopde.
The Company offers multi-disciplinary design and construction
services in mechanical, civil, electrical and instrumentation
field. It also offer turnkey services in petroleum storage and
handling systems, plant utilities diesel powerhouse, energy
conservation, waste heat recovery systems etc.

- The Company's objects is Business of work contracts in a number
of descriptions viz. mechanical, electrical civil etc. and
manufacturer of finned tubes and heat exchangers.

- The company's EPC division offers LPG bottling plants on a
turnkey basis. It also fabricates LPG storage spherical Tanks.
To achieve synergy in operations, the company embarked on a
backward integration programme to manufacture LPG cylinder
filling, testing & ancillary equipments.

1993 - 18,00,000 No. of equity shares of Rs.10 each issued and allotted
to promoters. Of these, 10,000 shares and 1,31,796 shares were
offered on bonus shares in 1985 and 1990 respectively. During
1992, the company issued through a prospectus 18,00,000 No. of
equity shares of Rs.10 each at par of which 90,000 shares were
issued to employees on preferential basis (only 60,100 shares
taken up). Balance 17,10,000 shares along with 29,900 shares
not taken up by employees were issued to the public. Additional
2,70,000 shares were issued to retain oversubscription.

1994 - The LPG cylinder filling, testing and other ancillary equipments
manufacturing facilities were set up.

- The Company signed a MOU with M/s. CBI constructors Ltd. (CBI)
UK to jointly undertake major projects in India. The tie up
envisages joint approach on exclusive basis to large projects in
India and enhance the company's prospects in India and abroad.

- The Company also entered into an agreement with M/s. Baker Tank
Co., USA for representing its products and services related to
Aluminium Geodesic domes, internal floating roof etc. Another
agreement was entered into with M/s. Verwater(Netherlands) for
projects involving relocation and repairs of tanks including
foundation work.

- During May, the company issued 2,15,000 shares and 2,15,000
shares 1,85,000 at a prem. of Rs.55 per share on private
placement basis to MirgaMorgan Stanley Fund and Indian Mutual
Fund respectively and Advantage Advisor Inc. India fund Inc.
respectively. During September-October, 44,85,000 Rights
shares were (prem. Rs.15; prop. 1:1), 2,60,000 No. of equity
shares issued to employees on private placement basis during

1995 - The Manufacturing division entered the wind energy sector by
manufacturing wind mill towers for Enercon (India) Ltd.

2002 -Artson Engineering Ltd has informed that the following change has been made in composition of the Board of Directors of the Company:

1. Mr P S Chopde has resigned as Executive Chairman of the Company. He continues as Director on the Board of Directors of the Company. 2. Mr C V Kadvekar has resigned as Managing Director of the Company. He has been unanimously appointed as Wholetime Director for a term of five years w e f March 01, 2002. 3. Mr N K Jagasia has been unanimously appointed as Chairman and M D of the Company for a term of five years w e f March 01, 2002.


- Artson Engineering Ltd has appointed Mr. Michael Bastian, as an Additional Director of the Company effective September 21, 2009.


- Artson Engineering Ltd has appointed Mr. P. V. Varghese as an Additional Director of the Company.
Oct 25, 12:30 pm
Oct 25, 12:39 pm
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