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Borosil Glass Works Ltd. Company History and Annual Growth Details

1962 - The Company was Incorporated on 14th December at Mumbai mainly to
acquire the undertaking of the Industrial and Engineering
Apparatus Co. Pvt., whose business was merged with that of the
company an order of the Mumbai High Court dated 30th July 1963.
The main objects of the company is manufacture of borosilicate
tyre neutral & heat resistance tubings & rods scientific
apparatus laboratory glassware etc.

1963 - Issued (i) 1,52,500 shares to vendors without payment in cash;

- (ii) 2,30,000 shares to promoters, etc.;

- (iii) 7,35,000 shares to foreign collaborators, and

- (iv) 3,82,500 shares to the public.

1964 - The company installed a second furnace with 10 tpd capacity. The
blowing tubing and finishing operations were also carried out at
the Marol plant.

- 5,72,931 shares allotted to collaborators (5,30,000 shares in
1964, 29,256 shares in 1965 and 13,675 shares in 1966).

1982 - 7,48,031 Bonus Equity shares issued in prop. 1:2.

1988 - Tank-II which was shut down for modification to manufacture low
expansion borosilicate glass, was recommissioned in August. This
tank was also to be used for the manufacture of medium expansion
borosilicate neutral tubing.

1990 - During June-July the Company offered 11,22,047-14% secured
redeemable partly convertible debentures of Rs. 100 each on
Rights basis in the proportion debenture: 2 equity shares held.

- Simultaneously, the Company also issued 56,100 debentures to
employees (including Indian working Directors)/workers of the
company on an equitable basis.

- A total of 11,85,906 debentures were allotted on 14th August,
including retention of oversubscription.

- Rs. 35 of the face value of each debenture was automatically and
compuslorily converted into 1 equity share of Rs. 10 each at a
premium of Rs. 25 per share on the expiry of 6 months from the
date of allotment of the debenture i.e. 14th August. Rs. 65 of
the face value of each debenture would be redeemed at the end
of 8th, 9th and 10th years in equal instalments from the date of
allotment of debentures.

- 11,76,852 No. of equity shares allotted (prem. Rs. 25 per share)
in part conversion of debentures.

1991 - The company proposed to undertake an expansion project to
manufacture a wider range of blown and pressed labware,
consumerware items as well as pharmaceutical tubing. The plant
was to be set up in the name and style 'Speciality Glass
Corporation' adjacent to the sheet glass project in Gujarat.

- 7,433 shares allotted (prem. Rs. 25 per share) in part conversion
of debentures.

1992 - 250 shares allotted (prem. Rs. 25 per share) in part conversion
of debentures.

- The Company has signed an agreement with Gas Authority of India
Ltd., for supply of natural gas by about 31st March, 1993 to the
Plant at marol, Andheri East, Mumbai.

1993 - Gujarat Borosil Limited your Subsidiary Company, made a total
issue of Share Capital of Rs.29,55,50,000/-. Out of this a
Public Issue was made in January 1993 for 1,11,00,000 Equity
Shares which was oversubscribed by 26 times (excluding reserved

- The company has decided to enter into equipment lease
arrangements with Financial Institutions/Financial Companies.

1994 - Marol plant was shut down for cold repairs for about 6 weeks.

- The company has taken on lease the plant of Vyline Glass Works,
Ltd., as a separate unit of the company. The plant was
successfully commissioned in March, 1995. With a new cold-top
electric glass netting furnace and related products and auxiliary
equipment with a project.

- 449 shares of Rs. 10 each allotted on conversion of debentures.

- Borosil upgraded its second furnace, increasing its capacity to
16 tpd, increasing the total melting capacity by around 15 per
cent to around 10,000 tpa.

1995 - The Company obtained an industrial licence for the manufacture
of reprographic toners, and developers with an annual capacity
of 750 tonnes. Government approval for entering into technical
collaboration with a Japanese firm was received. Steps were
being taken to implement this project.

- A new project was envisaged at the Mari Malai Nagar plant for
the manufacture of heat resistant borosilicate opal tableware
using an all-electric furnace based usage of in-plant cullet.

- Gujarat Borosil, Ltd. (formerly Gujarat Window Glass, Ltd.) and
Swapan Properties, Ltd. are subsidiaries of the company.

1996 - As a part of modernisation project, the Recupevator on Tank-II at
Marol has been replaced resulting in improved fuel efficiency.
Laser based OD Gauging System is being installed on one of the
tube production lines so as to enable control of the tubing
diameter to closer tolerance.

- Modernisation programme is also proposed to be extended to
Tank-2, which will undergo a similar capacity enhancement for
accommodating an automatic blowing machine with a
Feeder/Forehearth in addition to the two existing tube production

- During the year, ICICI Banking Corporation Ltd. has joined the
consortium of banks for financing the Working Capital
requirements of the Company.

1997 - The main furnace at the Marol Plant viz. Tank-I had to be
shutdown for a period of over two months for modernisation and
expansion causing loss of production.

- The electric boosting system has also been installed on Tank-I
for enhancing its melting capacity.

1998 - Borosil Glass Works Ltd is facing immediate disruption in
production at its Kurla plant in Mumbai, with nearly 450 workers
threatening to go on a hunger strike.

- The company also installed some energy recovery devices such as
heat exchangers and energy recuperators.

- In June, there was a fire due to electrical short circuit at
Marol Plant. Production in both furnaces was resumed in about
6-8 hours.

1999 - The Company has decided to change its product mix by re-entering
into production of medium expansion pharmaceutical tubing.

- Furnace No. 2 is scheduled to be commissioned in the first week
of September.

- During the year, the Company has developed new export markets in
Australia, Botswana, Tunisia, Greece and Denmark.

- Gujarat Borosil Ltd. has become a sick industrial company in
terms of provisions of the Sick Industrial Companies (Special
Provisions) Act, 1985.

2000 - The company has executed a tripartite contract with Jenaer
Schmelztechnik Jodeit and Ilmenauer Glasmaschinenbau, both of
Germany pertaining to supply of technical knowhow and equipment
for modernisation cum expansion of company's furnace at
Maraimalai Nagar, Tamilnadu.

- Borosil International, a division of Borosil Glass Works Ltd.,
has tied up with Europe-based Bormioli Rocco, to launch a premium
tableware glass collection in India.

- Borosil Glass Works Limited presented the Borosil International Range,
transparent, light glassware, that includes Bake and Serve, Cook and Serve,
Carafes and Tea Sets.

2001 - The Company is entering into a development-cum-sale agreement in respect
of its surplus land (partly encroached), with old structure situated on Andheri-Kurla Road.


- Borosil Glass Works Ltd has appointed Mr. Utpal Kumar Mukhopadhyay (IAS Retd.) and Mr. Shreevar Kheruka as Additional Directors of the Company w.e.f. August 24, 2009.
Oct 24, 12:50 pm
Oct 24, 12:39 pm
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