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Stovec Industries Ltd. Company History and Annual Growth Details

BRIEF HISTROY OF THE COMPANY

The company was incorporated on 5th June, 1973 at Bombay. The company has been promoted by ATE enterprises of the ATE group. Formerly the company was known as Stovec Screens India Limited. During 1987-88, the name of the company was changed from 'Stovec Screens India Limited to Stovec Industries Limited.

A technical collaboration agreement was entered into with Stork Screens B.V., Holland, for the supply of complete know-how and information for the manufacture of screens, planning of the project and to supply imported machinery.

Commercial productioin of performated nickel rotary screens commenced in August, 1975.

Stormac India Limited, was merged with the company with effect from 1st October, 1987. Consequent to an order passed by BIFR on 26th November, 1990 , Assotex Engineering Industries Limited , was amalgamated with the company effective from 1st April, 1989.Storle Pumps India Ltd is the subsidiary of the Company.

The company's efforts are directed primarily to increase its sales volume. The company's electronics division has recently started production. The company has five divisions, namely screens division, indusrial machinery division, electronics division, graphics division, sintered metal and ferrite division.

2002

-Stovec Industries Ltd has informed BSE that Mr Ulbe Bijlsma appointed as a Director of the company to fill up Casual Vacancy caused by resignation of Dr Adriaan W Veenman.

2004

-Stovec Industries has recommended dividend of 40%

2005

-Stovec Industries has recommended dividend of 30%

2006

-Mr Joost Willem Pieter Smits has been appointed as Director of the Company

2007

-Mr. Ashish Kaul has been appointed as the Managing Director of the Company

-Stovec Industries has recommended the final dividend of Rs 2.20 per share

2008

-Stovec Industries has recommended the final dividend of Rs 3.20 per share

2010

-Stovec Industries has recommended the final dividend of Rs. 10.50 per share

2011

-Stovec Industries has recommended the final dividend of Rs. 10.30 per share (103%)

2012

-Stovec Industries's In-House Research and Development Unit has received recognition from Ministry of Science and Technology, Department of Scientific and Industrial Research, New Delhi. This is a prestigious recognition for encouraging R&D activities.

2013
-Stork Prints successful at Labelexpo.
-Stork Prints celebrates 50 years of innovation at Labelexpo.
-Stork Prints confirms its leading position for inkjet printing at FESPA Digital!

2014
-SPGPrints demonstrates productivity and economics of DSI UV-inkjet technology and digital plate imaging at Labelexpo Americas.
-Acquisition SPGPrints by Investcorp.
-McLoone boosts competitiveness in short and mid-run self-adhesive label markets with SPGPrints DSI digital UV-inkjet printer.
-SPGPrints wins another Etiq & Pack Trophy for digital label printing.

2015
-Panel Solutions expands synthetic tile production and design capabilities with SPGPrints DSIÂ® digital UV-inkjet press
-Canada's '29 fÃ©vrier' maple syrup brand sees cost-efficiency leap thanks to Multi Action LabelsÂ DSIÂ® digital UV-inkjet workflow
-McLoone prints one-third of its flexible labels digitally on a DSI UV-curable inkjet press from SPGPrints
-SPGPrints wins Etiq & Pack Award for digital label printing
-SPGPrints reveals new ÂArcherÂ projects

2021

-The Company and Atul Sugar Screens Private Limited ('Atul') has agreed to the closure of Contract Manufacturing Agreement (CMA),

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