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Fiberweb (India) Ltd. Company History and Annual Growth Details

1985 - PVD Plast Mould Industries Ltd. was established. It was a ailing Partnership
firm managed by the Kanakias and it was acquired by Pravin Seth.

- The company engaged in the manufacture of plastic extruded, injection, and
blow-moulded containers, Jerry Cans etc.

- The company proposes to modernise and diversify its manufacturing activities
into laminated sheets, flexible tubes and spunbound non-woven products at Daman.

1992 - The Company has allotted and despathed by Rgd. Post, 10,00,000 Equity Shares of
Rs. 10/- each aggregating Rs. 1,00,00,000/- as BONUS SHARES on 12th December,
in the ratio of two fully paid equity shares for every five shares held.

- To diversify its activities, the company proposes to set-up a new project at Daman for
the manufacture of multilayer, metalised, coated/laminated and printed film and paper
for the packaging industry.

1993 - Production was marginally affected by the shift of the plant from Vapi to the new
site in Daman.

- The Company has allotted 35,00,000 No. of equity shares of Rs.10 each at a premium
of Rs.15 per share aggregating to Rs.8.75 crores as Rights shares.

1994 - During the year the Company has privately placed 40 Lakhs No. of Equity Shares
of Rs. 10/- at a premium of Rs. 20/- per share aggregating to Rs. 12 Crores to
institutions, and other bodies Corporate.

- During the year under review, the Company had established a 100% E.O.U. for
packaging products like Garbage and Carrier Bags.

- Mr. V.G. Rajadhyaksha, Mr. Vijay K. Sheth and Mr. Bhavesh P. Sheth - Directors
retires by rotation and are eligible for re-appointment.

1995 - The profitability in the operations was adversely affected during the year due
to increase in the cost of raw materials, especially, the polymers which are being
used in bulk quantities, severe liquidity crunch in the financial market since
September, and paucity of demand for certain products of the Company.

1996 - Mr. Gopal G. Rana and Mr. J.C. Shah retire by rotation and are eligible for

- During the year, Mr. Pravin V. Sheth was appointed as Chairman and
Managing Director of the Company w.e.f. 1st April.

1997 - One of the units of the Company manufacturing blow moulded, roto moulded
and injection moulded products was closed down during the year due to extreme
liquidity problem.

1999 - During the year Mr. H. K. Vithalani, Mr. B. P Sheth and Mr. B. Gopalkrishnan
(UTI Nominee) have resigned from the Board in view of their preoccupations.


-Fiberweb India Ltd has appointed Mr. D V Naik as an Additional Director of the Company with effect from March 12, 2007.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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