1960 - The Company was Incorporated on 24th November, at Mumbai. The
Company was promoted by Harshadray Pvt. Ltd. It entered into a
collaboration with Griesheim GmbH, West Germany, for the
manufacture of welding electrodes.
- The Company's object is to manufacture of welding electrodes and
allied equipment and appliances. The Company also renders
technical services and acts as technical and industrial advisers
- The Company took over the electrodes manufacturing plant
purchased by the promoter, Harshadray Pvt. Ltd., Calcutta.
1966 - The Company obtained an import licence of the value of
Rs.27,56,250 (c.i.f) for the import of plant and equipment for
the manufacture of arc welding electrodes and orders were placed
with the collaborators for their supply. The production capacity
of the existing plant and the new plant to be imported together
was about 85.5 million running feet per annum on single shift
1967 - 12,285 shares reserved for allotment to foreign collaborators
(11,907 shares already allotted) against the supply of plant and
machinery; 7,400 shares reserved and allotted to directors etc.
10,315 shares issued to public in November.
1970 - The Collaborators gave up their right to 378 No. of equity shares
reserved for them.
1977 - The Company entered into a new collaboration agreement with
Griesheim GmbH, West Germany for the manufacture of special
1978 - The Complete plant and machinery were received and erected.
- The Company concluded a collaboration agreement with the Mumbai
Oxygen Corporation Ltd., to act as their technical advisers and
to supply the know-how for the production of low temperature
plants of oxygen, nitrogen, argon and acetylene from calcium
carbide and for the transport, storage and application of these
1980 - The Company received a letter of intent for the manufacture of
welding and cutting machines. This project was taken up at
Baroda. Implementation of this project was unduly delayed for
1981 - 1,77,732 Bonus equity shares issued in prop. 3:5. During the
year shares were subdivided.
1988 - Regulators under the brand name 'Tornedo' were marketed.
Manufacture and marketing of a portable flame cutting machine
under the brand name 'Quickly' was expected to commence towards
the last quarter of 1989.
- The Company has splits its face value from Rs10/- to Rs2/-.
-The Company has issued Bonus shares in the ratio of 1:5.