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GEI Industrial Systems Ltd. Company History and Annual Growth Details


GEI Engineering Limited was incorporated on 28.12.1993 by conversion of an existing partnership firm namely General Engineering Industries into joint stock company under Chapter IX of the Companies Act, 1956, which was originally formed in 1970 as an ancillary unit of BHEL.

The Company is engaged in machining, fabrication activities and specialising in manufacture of Air Cooled Heat Exchangers and Finned Tubes. The Company has a technical tie up with M/s Birwelco, U.K. for design and performance guarantee of the products to be manufactured by GEI, as per the specific requirements of the clients and had secured
orders from E.I.L., TOYO Engineering Ltd., UHDE KTI and Mangalore Refineries and Petroleums Ltd., Davy Power Gas, Chemtex. It is promoted by Shri. C.E. Fernandes, and Shri. P.L. Mundhra. The company has an existing manufacturing capacity of 500 mt of Heat Exchangers and 30,000 mtrs of Finned Tubes. The Company proposes to expand its capacity to manufacture Heat Exchangers to 1200 mt and Finned Tubes to 60,000 Mtrs. in Phase I and in the Phase II the capacity will be increased to 3000 mt and 1,50,000 mtrs respectively. The first phase is already completed and has started commercial production w.e.f 1st October, 1994. The
implementation of Phase - II is under progress and the Company has already started the civil work.

The Company became one of the Partners in a partnership firm called Technofab Industries in which Shri. C.E. Fernandes, and Dr.(Mrs.) Merlyn Harold, were partners. The purpose behind the company to enter into the partnership was to take benefits of facilities available at Technofab
Industries as it was a sub contracting firm to GEI and having the facilities to do fabrication of various parts such as Headers, 'C' Frames, Plenam, Chambers, Structure Assembly and also final assembly of Coolers. The Employees, Supervisors and facilities existing there were
precisely suitable for increasing the capacity of GEI Engineering Limited.

The figures given below for Technofab Industries were taken from audited accounts, however, the assets of the Technofab Industries were revalued and a sum of Rs. 15 lacs was added and the same was transferred to partners capital account in their profit sharing ratio.

The Partners retired from the Partnership as per dissolution deed dated 28/9/94, with the result Technofab Industries stood taken over by GEI Engg. Ltd., w.e.f. 29/09/94.

The Company has signed the Joint venture Agreement with M/s Hamon Industrie Thermique, France for expansion of the existing facilities as well as developments of the new products i.e. Heat Recovery Equipments and High Frequency Welded Fin Tubes etc.

2003

- The result annual General Meeting :-

1. Delisting of equity shares of the Company from Ahmedabad & Madhya Pradesh Stock Exchanges.

2. Increase the Authorised Share Capital from Rs 110 million to Rs 150 million.


2005

-GEI Hamon Industries bagged an order worth US $ 1,070,000 for supply of Air Cooled Heat Exchanger from Consolidated Contractors Co. Oman LLC (For Oman Refinery)

2007

- Company name has been changed from GEI Hamon Industries Ltd to GEI Industrial Systems Ltd.

2009

- GEI Industrial Systems Ltd has appointed Mr. Sanjiv Singhal (Nominee of Banyantree Growth Capital LLC {BTGC)) as Additional Director of the Company. This Appointment is pursuant to the Shareholders Agreement with BTGC.

2010

- GEI Industrial Systems, the heat transfer technology provider, has received two orders from the power sector in order to supply air cooled steam condensers worth Rs 64 crore.
 
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