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Elpro International Ltd. Company History and Annual Growth Details

YEAR EVENTS
1962 - The Company was incorporated on 27th July, at Mumbai. The
Company Manufacture lighting arresters, pellet and thyrite types,
X-ray equipment for medical and industrial applications, Alnico
magnets for domestic and industrial applications, Calrod heating
elements for domestic, industrial and medical applications and
other electrical apparatus.

1963 - 350 shares subscribed for by the signatories to the Memorandum of
Association. 84,650 shares issued by a prospectus.

1983 - The Company entered into a technical collaboration agreement with
Matsushita Electric Industrial Co. Ltd., Japan for the
manufacture of the most important basic component required for
the manufacture of gapless lighting arresters.

- Government issued a letter of intent for expansion of the
Manufacturing capacity of hard ferrites. The Company obtained
industrial licence and manufactured and sold the first unit of
electrostatic precipitators and control with DC power supply.

1986 - The Company's technical collaboration with General Electric Co.,
U.S.A. to manufacture gapless lighting arresters was approved by
Government.

- The Company has acquired 15,19,000 No. of equity shares of Rs 10
each, at par, of GE Elrpo representing 49% of its paid up equity
capital.

1991 - Equity shares subdivided. 8,50,000 rights share issued (prem. Rs
8 per share; prop. 1:1) 42,500 No. of equity shares (prem. Rs 8
per share) allotted to employees.

1995 - Company has signed a joint venture agreement with Sunpower Inc.
for development of water pump running on biomass.

- The Company issued 84,650 No. of equity shares of Rs 100 each at
par by the prospectus dated 7th June, 1963. Out of the issue,
42,500 shares were subscribed for by the General Electric Co.,
New York and/or one of its subsidiaries, 12,400 shares were taken
up by the Investment Corporation of India, its associates,
directors and their friends, 8,500 shares were taken up by the
International Electric Co. (India) Pvt. Ltd., and their friends,
and the balance 21,500 shares were offered for public
subscription.

- 17,41,895 No. of equity shares of RS 10 each allotted to the
shareholders on rights basis in prop. 1:1 and 72,000 No. of
equity shares of Rs 10 each allotted to the shareholders of
Switchgear Manufacturing Co. Ltd. in terms of Scheme of
Amalgamation.

1996 - The performance of the company was affected due to tremendous
drop in demand for lighting Arresters during the year.


2008

- Elpro International Ltd has informed that the Board of Directors of the Company at its meeting held on January 16, 2008, has appointed Mr. Narayan T Atal on the Board of Directors of the Company.
 
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