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Automotive Stampings and Assemblies Ltd. Company History and Annual Growth Details

YEAR EVENTS
1990 - The Company was incorporated on 13th March, and received the
Certificate of Commencement of Business on 14th September. It
was promoted by S.K. Arya and associates and Haryana State
Industrial Development Corporation Ltd. (HSIDC). The company is
engaged in developing tools, dies and moulds for various original
equipment manufacturers of automobiles and other products on tool
room machinery leased from Gurera Gas Cylinders Ltd., a group
company. The existing plant has a capacity of 3,500 tonnes p.a.
in Ahmedabad, Haryana and is engaged in the manufacture of sheet
metal components, tools and dies. Operations for tools commenced
in 1990 and that for sheet metal and components in 1994.

- The company's objects is engaged in developing tools, dies and
moulds of automobiles and other products and steel metal and
components.

- The Company also took on lease vide an agreement entered into
with GGCL dated 1.10.1990 tool room machineries viz. hydrawn
surface grades, radial drill, etc. on a monthly rent for 61
months ending in 1995.

1994 - The Company undertook to set up facilities at Faridabad, Haryana
for manufacture of sheet metal components with a capacity of
3500 tpa. Most of the plant and machinery were procured and
installed Niz 2 of mechanical processes, shearing machine, radial
dull and material handling machinery.

1995 - The company developed large size dies for 'Opel Astra' and
'Jogna' vehicles.

- 6,65,200 shares allotted to promoters. 25,34,800 shares were
then issued at par during March 1994 of which the following were
reserved for allotment on a preferential basis:

- (i) 6,94,800 shares to Indian resident directors, their friends
and relatives;

- (ii) 2,40,000 shares Haryana State Industrial Development
Corporation (HSIDC) (all were taken up);

- (iii) 5,00,000 shares to ICICI (all were taken up);

- (iv) 15,000 shares to employees (only 12,400 shares taken up).
Balance 10,85,000 shares along with 2,600 shares not taken up
under preferential allotment issued to the public (all were taken
up).

1996 - The company commenced supplies of oil pumps to TEICO from its new
unit at Bhosari, Pune. A double action 1000 T press was
installed. Further, paint shop and weld shop were also set up.
In addition five heavy presses in the capacity range of 1000
tonnes and 800 tonnes purchased from General Motors, USA were
also to be installed.

- Construction activities were in progress at the second unit being
set up at Chakan near Pune. Presses of capacity 1500 tonnes and
630 tonnes were to be installed.

- During July-August, the company issued 25,60,000 - 15% fully
convertible debentures of Rs.75 each on Rights basis in prop. 4
debentures: 5 equity shares held. 20,45,878 debentures taken up.
4,20,000 debentures were underwritten and 94,122 debentures were
allotted at the discretion of the management.

- Part A of Rs.30 of each debenture was converted into one equity
share of Rs.10 at a prem. of Rs.20 per share. Accordingly,
25,60,000 shares allotted.

- Part B of Rs.45 of each debentures was to be converted into 1
equity share of Rs.10 each at a prem. of Rs.35 per share at the
end of 17 months from the date of allotment of debentures.

2003

- Mr. Sanjiv Kumar has been appointed as 'Manager' u/s 269 of the Companies Act, 1956 with designation 'Chief Executive Officer'

-The name of JBM Tools Limited changed to Automotive Stampings and Assemblies Limited. and the trading symbol of JBM Tools Limited changed from JBMT to ASAL

2004

-Automotive Stampings And Assemblies Limited has informed that Tata Autocomp Systems Limited has acquired 49,77,779 equity shares of Automotive Stampings and Assemblies Limited (ASAL) representing 48.809% of the share capital of ASAL.

2005

-Appointed as Chief Executive Officer

2007

-Automotive Stampings And Assemblies Limited has appointed Mr. Nagaraju Srirama, Chief Executive Officer of the Company as a 'Manager' under section 269 of the Companies Act, 1956 with effect from 16th February, 2007.

-Automotive Stampings & Assemblies Ltd has appointed Mr. Francisco Jose Riberas Mera and Mr. Francisco Lopez Pena as Additional Directors of the Company, w.e.f. October 01, 2007.

-Automotive Stampings & Assemblies Ltd has appointed Mr. Pradeep Mallick as a Director of the Company w.e.f. December 28, 2007. Mr. Mallick is an Independent Director on the Board of the Company.

2008
- Automotive Stampings & Assemblies Ltd has appointed Mr. R S Thakur as a Director of the Company with effect from April 29, 2008.
 
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