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Fag Bearings India Ltd. Company History and Annual Growth Details

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
per annum.

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
Oct 21, 12:00 am
Oct 21, 4:14 pm
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