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International Paper APPM Ltd. Company History and Annual Growth Details

YEAR EVENTS
1964 - Andhra Pradesh Paper Mills Ltd. was incorporated on 29th June
at Rajahmundry. The Company manufactures and deals in all kinds
of paper.

- A formal agreement was entered into between G.D. Somani and the
Govt. of Andhra Pradesh on 13th May with a specific provision
that a separate company should be formed to take over the
relevant assets, rights and obligations in respect of the
project.

- All shares issued to Andhra Pradesh Govt. including 65,850 shares
without payment in cash.

1966 - Issued 1,34,000 No. of equity shares for cash and 50,000 pref.
and 34,000 No. of equity shares without payment in cash to Andhra
Pradesh Govt. 50,000 pref. shares offered to the public in Jan.
1967.

1970 - In January, 75,000 No. of equity shares offered for public
subscription.

1972 - In October, 75,000 Right equity shares issued at par in the
proportion 1:5.

1980 - 1,12,500 bonus equity shares issued in proportion 1:4.

1988 - Two 1000 KVA D.G. sets were installed and further 2 more were
commissioned after the close of the accounting period. A 10 MW
Double Extraction Condenser was proposed to be imported from
G.D.R. A letter of intent was obtained for the manufacture of
caustic soda/chlorine at 30 tonnes per day.

1990 - The Company undertook a project for captive power generation. It
was also proposed to modernise the plant and expand the
production capacity to 400 TPD.

1991 - Production declined due to labour problems and stoppage of work
during the first quarter of the year.

1994 - Online process computer control system on paper machine No. 2 and
CD calipee control system on paper machine No. 3 were also
installed. The recovery boiler and the bleach plant were
commissioned.

1996 - Production decreased due to labour unrest coupled with recession
in the market which also led to fall in the selling price of
paper adversely affecting the profitability of the company.

1997 - The Core Making Machine and Lime Sludge Reburing System were
commissioned in March.

- The Company proposed to undertake some diversification including
the manufacture of caustic soda/chlorine. The project was
postponed till the completion of the expansion scheme.

- Andhra Pradesh Paper Mill here is witnessing labour unrest for
the past five to six months, with the wage agreement having
expired by January 1996, and the management and unions unable
to come to an agreement on the issue.

- The Andhra Pradesh Paper Mill Ltd, one of the largest paper
mills in the country, has lined up a number of measures to
overcome the recession.

- The company will raise its capacity from the existing 85,000
tpa to 1,05,000 tpa with the proposed expansion programme. The
company has to make good the loss of the more than 3,000 tonnes
due to labour dispute during June-July.

1998 - The Andhra Pradesh Paper Mills Ltd (APPML), a Bangur group
company, has been certified as ISO 9002 company with effect from
December 9, by the Netherlands-based Det Norske Veritas (DNV) for
its quality management system.

- The company proposes to finance the MDP through a rights issue
as well through loans from financial institutions, banks and
other agencies, or through non-convertible debentures to be
issued to them.

1999 - The rights issue is proposed in the ratio of one share per every
one share held, to part-finance the expansion programme. The Rs
100 share will be issued at a premium of Rs 150 per share to the
existingshare holders.

- The paper industry is hit badly by the general recession in the
economy and the industry is expecting some respite from the
coming annual Budget.

- The company has been addressing Y2K compliance issue since 1998.
The Company has sufficient internal resources to address any
system disruption due to Y2K issue.

- The Company made a Rights Issue of 5,62,500 No. of Equity shares
of Rs. 100/- each at a premium of Rs. 150/- per share in the ratio
of 1:1 aggregating to Rs. 14,06,25,000/- in April which has been
over subscribed.

- The paid-up Equity Capital has increased on 15th June, by
allotment of 5,81,900 No. of Equity Shares by Rights Issue.

- During the year under review, the Company received May Day Award
for the year 1999 for best management for their outstanding
contribution towards productivity and harmonious industrial
relations and labour welfare.

- The Company has also been awarded ISO-9002 Certificate by DNV of
Netherlands for its Mills at Rajahmundry, Converting Units at
Hyderabad and Seri Narasanna Palem, Regional Offices at Delhi,
Calcutta and Mumbai and its Corporate Office at Secunderabad.

2000 - The Company has issued 5,62,500 No. of Equity Shares of Rs 100/-
each at a premium of Rs 150/- per share on Rights basis during
the year, out of which, 111 Shares have been kept in abeyance and
the balance 5,62,389 shares have been allotted during the year.

- The Company had to declare Lock-out of the Factory at Rajahmundry
on 5.7.2000 due to sudden eruption of violence in the factory
premises on account of Union rivalry. The same was lifted on
8.7.2000 after restoration of normalcy

- The Company has decided to sub-divide equity shares of Rs. 100
each into equity shares with a face value of Rs. 10 per share.

2001 - There was a temporary suspension of operations for a period of 12 days in
January, 2001 following an accident in the Mills at Rajamundry.

- The Company has decided to amalgamate Coastal Papers Ltd with the company.
One share of the company will be allotted for every three equity shares of CPL held.

2002-R C Mall re-appointed as Whole-time Director of Andhra Pradesh Paper Mills.


2004

-Andhra Pradesh Paper Mills Ltd has signed a Loan Agreement on July 20, 2004 with International Finance Corporation, Washington, DC, USA (IFC) in connection with foreign currency loan of US $ 35 million sanctioned by IFC

2007

-Andhra Pradesh Paper Mills Ltd has appointed Shri. Shreeyash Bangur as Whole time director of the Company designated as Director (Corporate) with effect from February 19, 2007.

2008

-Andhra Pradesh Paper Mills Ltd has informed that the Board of Directors of the Company at its meeting held on May 12, 2008, has appointed the following additional Directors:

1. Shri. P K Paul
2. Shri. Rajiv Kapasi
3. Shri. P K Suri

The Board also appointed Shri. P K Suri as Wholetime Director designated as Director (Operations) for a period of five years with effect from May 12, 2008.
 
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