|ACTIVITIES: Manufacture of steering gears and column assemblies.
GENERAL : The Company is promoted by Surinder Kapur and Maruthi Udyog Ltd. The Company entered into technical agreement with Koyo Seiko Co Ltd.,(Koyo) Japan, to provide knowhow , technical information, specification of machine tools, auxiliary equipment, and continued technical support. It is valid for a period of 7 years from 23 August 1985 or for a period of 5 years from commencement of commercial production whichever earlier. Hypersonic Investment (P) Ltd., and Turbo Investment (P) Ltd., are the subsidiaries of the company. The financial institutions have the right to convert 20% of their Rupee term loans
into equity shares.
1987-88 ; Commercial production commenced from 1st October 1987.
1989-90 : Govt. approval was received for increasing the capacity of steering gear assembly from 1.25 lakh nos to 3.50 lakh nos. The Company also undertaken expansion of steering gear project at an estimated cost of 4 crores. The Company entered technical collaboration agreement with M/S Koyo Seiko Co Ltd for knowhow of collapsible column assemblies.
-Ffinalised joint ventures worth Rs. 100 crore with four multi national companies (MNC)
-Ferodo UK based auto component giant has tied up with Sona Steering to manufacture asbestos free brake liners for automobiles and railways in India.
-The company has signed a memorandum of understanding with Oberland Mangold of Germany to make metallic convertors.
-Sona Steering System Ltd and Mitsubishi Materials Corporation entered into an agreement to produce level gears and synchroniser rings.
-Sona group has been awarded the Global Growth Company award by World Link the magazine of the World Economic Forum.
-Got orders from Maruti Udyog Ltd (MUL) and Hindustan Motors (HM) for supplying 100 per cent requirement of power steerings for their luxury cars.
-Initiated a debt restructuring exercise aimed at reducing the company's debt-equity ratio from 0.83:1 at present to 0.45:1 within the next three years
-The company has allotted 10 00 000 - 10 per cent cumulative redeemable preference shares of Rs.100 each to Koya Seiko Co. Ltd. (Koyo) on preferential basis to cash at Par redeemable upon the expiry of 7 years from the date of its allottment.
-Obtained an order worth Rs 40 crore from its joint venture partner Koyo Seiko of Japan
-Board Approves the delisting of the equity shares of the company from Delhi, Bangalore, Ahmedabad, Ludhiana and Calcutta Stock Exchanges.
-The Surinder Kapur-controlled, Rs 365-crore Sona Group, has bagged export orders totalling over Rs 275 crore from its five group companies, which include four joint ventures
-Sona Koyo Steering Systems opens 100 per cent EoU (export-oriented unit) on October 29,2004
-Sona Koyo Steering Systems Ltd has appointed Mr. Noriyuki Fujita as Director of the Company with effect from January 18, 2008.
- The Company has splits its face value from Rs2/- to Rs1/-.