1962 - The Company was incorporated on 27th April, at Bombay. The
Manufacture of and dealers in antifriction ball and roller
bearings and components thereof.
1990 - The company received an endorsement from the Government on its
manufacturing license enhancing capacity to 14.9 million numbers
1993 - The Company is among the very few companies in the country who
have received ISO 9001 certification.
1996 - The company has a 100% Export Oriented Unit (EOU) Project for
manufacture of Cylindrical Roller Bearings.
1997 - FAG Precision Bearings Ltd. the third largest bearings
manufacturer in the country with a market share of around 10
per cent, has commissioned a 100 per cent EOU to manufacture
cylindrical roller bearings at Baroda.
1998 - The Company has also decided to set up a production line for
DRACBB (Double Row Angular Contact Ball Bearing) which will
commence production in early 1999.
- The Company became the first bearing manufacturing Company in
India to be certified for 'QS 9000' Quality Standard by TUV CERT
Certification body of RWTUV e.V. Germany.
1999 - FAG Kugelfischer the name of the Indian subsidiary is set to
be changed from FAG Precision Bearings to FAG Bearings India
2000 - The company had introduced a voluntary retirement scheme
effective from 2nd April 1999.
- FAG Kugelfischer George Schafer Aktiengesellschaft has they are
holding 8,474,805 No. of equity equivalent to 51% of the issued
share capital of the company.
- the following persons have resigned from the Board of the Company. 1) Mr. J R Patel - Chairman w.e.f. Novemeber 18, 2001. 2) Mr. B N Vidholia - Director w.e.f. November 24, 2001 and 3) Mr. S V Joglekar - Director w.e.f. September 02, 2001.
-launched its e-commerce platform - www.fag.com - mainly for Europe
-Mr. H R Shukla, Company Secretary(CS) has been appointed as 'Compliance Officer'(CO).
-The following changes in the BOD w.e.f. July 25, 2002:
1) Mr. A P Gandhi - Appointed as Director and then elected Chairman of the BoD in place of Dr. V Sagar.
2) Dr. V Sagar - Ceased to be the Chairman of the BOD and will continue to be a Director on the Board.
3) Mr. M D Garde - New Nominee of GIC in place of Mr. B P Deshmukh.
4) Mr. R Sampath Kumar - Appointed as Alternate Director to Mr. F Huber.
5) Dr. M Kunzmann - Resigned from the Board.
-Templeton Mutual Fund purchases 873832 shares (5.26%) of the Company
2003 - No News