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Essel Propack Ltd. Company History and Annual Growth Details

1982

- The Company was incorporated on December 22, with annual capacity of
57 million units and went public in 1984. It is a flagship company of
the Essel group and is a pioneer in the manufacture of lamitubes. It
was promoted by Subhash Chandra, Ashok Goel and others of the Essell
Group. The Company manufactures fully collapsible laminated tubes
(lamitubes) and soft squeeze lamitubes.

1989

- The installed capacity was increased from 57 million tube per annum
to the current level 170 million tubes per annum.

1993

- The Company's joint venture project in Egypt to manufacture laminated
collapsible tubes commenced production.

- 700 shares subscribed for by signatories to Memorandum of
Association. 27,99,300 No. of equity shares were then issued at par of
which 10,79,500 shares and 5,19,800 shares were reserved for allotment
to promoters, directors and NRIs respectively. Of the remaining
following were reserved for allotment on preferential basis (i) 34,000
shares to employees; (ii) 6,00,000 shares to NRI. Balance 5,16,000
shares were issued to the public.

- During 1990, 14,00,000 Right equity shares issued in prop 1:2.
Additional 2,10,000 shares allotted to retain oversubscription.
Another 70,000 shares issued to employees on equitable basis only 8,550
shares taken up. 11,04,637 Right equity shares were issued at a prem.
of Rs 40 per share in prop. 1:4 (all were taken up); Another 41,200
shares were offered to employees' at a prem. of Rs. 40 per share (only
900 shares taken up) unsubscribed portion was allowed to lapse.

1994

- On 18th June, the Company issued 22,00,000 No. of equity shares on
preferential basis to promoters and associates.

- The Company issued 33,62,044 Rights equity shares of Rs 10 each at a
premium of Rs 215 per share in proportion 1:3.

1995

- During the year, the Company has created a functional chain
responsible for 'Buy-Make-Deliver' functions.

- The Company undertook to expand the capacity of lamitubes manufacture
to 220 million tubes at Waqda and also manufacture 1030 tonnes of
polyethylene film as backward integration programme for marking
laminates that go into the making of lamitube.

- Three new technologies viz., Blown Film, Injection Mouldings and
co-extrudend Seamless tubes were absorbed by the company.

- The joint venture also started manufacturing plastic moulded
containers.

- The Company offered 38,62,044 equity shares of Rs 10 each at a
premium of Rs 215 per share to the existing shareholders of which
36,22,367 shares were applied. All were allotted and taken up.

1996

- The Company has entered into an MOU with its Egyptian Partners in the
Joint Venture Company in Cairo whereby the equity holding would
increase to 55% from the current 35%.

- The Company has emerged as one of the World's largest supplier of
Laminated tubes.

- In 1995-96, the company created a Supply Chain Group.

- The Company have created a separate team for Product Development,
Import Substitution and Quality Assurance.

- The Company has installed an online MIS System on LAN. The Company
has one of the finest equipment capable of producing tubes to any
exacting international standard.

- The Company's rights Issue opened for subscription on 27th March,
1995 and closed on 26th April, 1995.

1997

- EPL has set up joint ventures abroad, which will manufacture tubes
with the help of web imported from Essel's plants in India.

- The company is also setting up an integrated laminated tubes
manufacturing operation in China that will be catering to the several
user industries like the toothpaste industry, pharmaceutical industry,
adhesive industry and others.

- Essel Packaging Limited has received the approval of the Reserve Bank
of India and department of industries in Nepal to set up a unit in
Nepal.

- Essel Packaging Ltd, an integrated producer of laminated tubes and
seamless plastic tubes for a wide variety of packaging uses, has
launched its web site with 20 pages on the Internet.

1998

- The Mumbai-based Essel Packaging Ltd, the second-largest tube company
in the world, is setting up a 100 per cent owned manufacturing
subsidiary in Nepal.

- Essel Packaging is currently setting up manufacturing plant at
Silvassa.

- Essel Packaging Ltd (Essel), is setting up a manufacturing plant in
Dresden, Germany.

1999

- ESSEL Packaging, the second largest lamitube company in the world,
has become the first Indian company to announce the price range for
buying back its equity.

- The company, is also proposing to introduce an employee stock option
scheme for its employees, wherein it will allot convertible warrants to
an employees welfare trust.

2000

- As part of its strategy to corner a major chunk of the European
market, Essel Packaging collaborated with Helmut Roschinger, the owner
of real estate company Argenta International, to set up a $12.5-m
production unit for laminated tubes in Dresden (Germany).

- Essel has a 100 per cent subsidiary operating in the Chinese market,
which at an estimated 10 billion.

- Essel will be bringing to the joint venture state-of-the-art
technology and cost leadership.

- The Board has approved an issue of bonus shares in the ratio of three
shares for every five shares held.

- Essel Packaging Ltd has acquired the laminated tube business of
Romanian Company, 'Progresul'.

- Crisil has assigned P1+ rating to the Rs 40-crore CP program of the
Company.

- Essel Group's flagship company Essel packaging Ltd. has entered into
a mega merger deal with Propack Limited, which would effectively make
it as a world's largest player in laminated tubes.

- Crisil has reaffirmed the P1+ rating assigned to the Rs 40-crore
commercial paper programme of Essel Packaging, subsequent to EPL's
decision to acquire a 100 per cent stake in Propack Mauritius.

2001

- The Company has received the Foreign Investment Promotion Board
approval to set up a 51:49 Joint venture with Bericap Holding GmbH of
Germany for manuacturing caps and closures for carborated soft drinks.

- The Company has acquired tubing lines and printing machinary from
Masterpak in Mexico. It proposes to use these assets to start tubing
operations in Mexico.

- Mr. Bernhard A. Schwyn has been appointed as a Director of the
company.

- Essel Packing has acquired tubing lines and printing machinery from
Masterpak in Mexico.

2002

-Essel Propack Ltd launches fourth plant in Guangzhou region to
manufacture 45 million sq mt of special laminates and 550 million
laminated tubes annually

2003

-Essel introduces a new product Co-extruded plastic tubes.

-Mr.Cyrus Bhagwadia resigns as the Managing Director
on the board of the company.

2004

- Essel Propack to establish new plant in Russia
- Essel Propack sets up caps unit in US
-Essel Propack Ltd has informed that the Company has acquired 100% stake in Arista Tubes, UK. Arista Tubes is the leading manufacturer of plastic tubes in UK and has a 30% market share

- With effective September 02, 2004, the shares of the Company have been delisted from the Delhi Stock Exchange Association Ltd (DSE)

-Delist from Ahmedabad Stock Exchange with effect from October 15, 2004.

2005

-Essel Propack acquires Telcon Packaging, UK
 
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