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ISGEC Heavy Engineering Ltd. Company History and Annual Growth Details

The Saraswati Industrial Syndicate is a 58-years old company
listed on the Delhi Stock Exchange. the Chariman & Managing
Director is Mr D D Puri and the Joint Managing Director is Mr
Ranjit Puri. The company has interests in sugar, engineering,
steels etc. The company sugar mills are located at Yammunanagar,
the engineering division at Yamunanagar and Calcutta and the
steel division at Muzaffarnagar (U.P.).

1933

-The Saraswati Sugar Syndicate Ltd. (now Isgec Heavy Engineering Ltd.) is established.

1946

-Indian Sugar & General Engineering Corporation (Isgec Heavy Engineering Limited) is established to address the need for the Indian Capital Goods Industry.

1947

-Isgec shifts Registered Office from Lahore, (undivided India) to Abdullapur (now Yamunanagar in Haryana, India).

-Saraswati Sugar Mills (SSM) is established at Yamunanagar.

1959

-Agreement with John Thompson Ltd., UK for manufacture of Boilers.

1963

-The Saraswati Sugar Syndicate Ltd. name changed to Saraswati Industrial Syndicate Ltd. (SIS Ltd.) and Isgec is amalgamated with SIS Ltd.

1964

-Collaboration agreement with John Thompson Water Tube Boilers Ltd. for the manufacture of high pressure boilers having output in excess of 50 MW.

-First Ton Container is manufactured.

1965

-Isgec John Thompson Ltd. (IJT) is formed for designing, supplying, erecting and providing after sales service of boilers.

1967

-Licenses received for manufacture of Hydraulic Machinery in collaboration with John Shaw and Sons (Salford) Ltd., Salford Lancashire (UK).

-Presses Division is formed.

1968

-Production of Hydraulic Presses is started with technical knowhow from John Shaw, UK.

-Presses Division executes first order of 25T Hydraulic Press supplied to Carbon Products, Calcutta.

1969

-Items manufactured for the first time:
» Heavy Hydraulic Presses
» Variable Speed Rotators
» Large Traveling Grate Stoker
» Sophisticated and intricate Alloy Iron Castings
» Horton Sphere for the storage of Liquid Petroleum Gas.

1970

-Licenses received for manufacture of Plate Bending Rolls, Galvanizing Baths, Fabrication of High Pressure Piping and Heat Exchangers.

1974

-License issued license for manufacture of Water Treatment Plant.

1981

-Company acquires U.P. Steels - a steel plant set up by Kobe Steel Group, Japan at Muzaffarnagar (U.P.) India in 1966.

1985

-Production of Mechanical Presses is started with technical knowhow from Rovetta Presse Spa, Italy.

1988

-IJT forays into Fluidized Bed Combustion technology.

1990

-The company made a bonus issue of shares in 1989-90 in the ratio
of 1:1.

1995

-Isgec, Yamunanagar receives ISO-9001 certification.

-Manufacture Ladle Turrets for the Continuous Caster of the Rourkela Steel Plant – a first for India.

1998

-Licensing agreement for CFBC Boilers upto 60 MW with Foster Wheeler, USA.

-Licensing agreement with Belleli, Italy for the manufacturer of High Pressure Reactors for Oil Refineries and other Petrochemical Plants.

2001

-Receive patent for Liquefied Gas Containers from Mexico.

2002

-Receive patent for Liquefied Gas Containers from USA.

2004

-Overseas offices open in Germany and USA.

-Receive second patent for Liquefied Gas Containers from USA.

2006

-Technology License Agreement with ABB Lummus Heat Transfer, USA to market, sell and manufacture Helix Heat Exchangers (Helixchanger) products.

2007

-Receive patents for Liquefied Gas Containers from India and China.

-IJT Design office starts at Chennai.

2008

-New plant at Dahej, Gujarat in India commences production. Set up to manufacture heavier and bigger process plant equipment for the overseas market.

-Receive PIE certification, necessary for marketing Liquefied Gas Containers in Europe.

-Company is listed in Group B of the Bombay Stock Exchange.

-Collaboration agreement with Foster Wheeler, USA for CFBC Boilers enhanced to cover upto 99.99 MWe.

2009

- Saraswati Industrial Syndicate Ltd has appointed Mr. Arun Kathpalia and Mr. Vinod Kumar Sachdeva as Directors of the Company with effect from January 31, 2009.

-Agreement with Hitachi Zosen, Japan for technology transfer for the manufacture of Chrome-Moly Vanadium Reactors and critical equipment for the Fertilizer sector.



2010

-Technology Agreement with Belleli, Italy for manufacture of Vessels with complex chemistries for Oil, Gas & Power sectors primarily for India.

-Licensing agreement with Foster Wheeler for technology transfer to engineer, design, manufacture and sell PC fired sub-critical and super-critical boilers for 60-1000 MW unit capacities.


2011

-IJT Design office is started at Pune.

-Largest Vessel (Coke Drums for installation at MRPL Refinery) manufactured at Dahej and dispatched by barge.

-Company name changes from Saraswati Industrial Syndicate Ltd. to Isgec Heavy Engineering Ltd. All businesses consolidated and now marketed under a common brand name - Isgec.


2012

-Company forms a new joint venture with Hitachi Zosen Corporation, Japan for manufacturing specialized and critical process equipment. Shareholding pattern: 51% (Isgec) to 49% (Hitachi Zosen Corp.).

-Company buys drawings and the brand Morando for manufacture of Vertical Turning Lathes (VTL) from an Italian Company.

-Company signs Technology Agreement with Foster Wheeler of USA for the supply of design for Feed Water Heaters and Surface Condensers.

-Company signs Technology Agreement with M/s. Belleli, Italy for the manufacture of Breech Lock Exchangers.

2013

-ISGEC has recommended the payment of Dividend of Rs. 10/- per equity share of Rs. 10/- each.

2014

-ISGEC bags CFBC Boilers order from HMEL.

-ISGEC showcases Foster Wheelers PC and CFBC technology.

2016
-ISGEC Heavy Eng to open branch in Jordan

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