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Uni Abex Alloy Products Ltd. Company History and Annual Growth Details

1972 - The Company was Incorporated on 17th August at Mumbai.

- The Company's object is to manufacture centrifugally cast
alloy steel tubes and heat alloy steel castings (heat resistant
and stainless steel).

- The Company entered into a technical information and trade mark
licence agreement with Abex Corporation, U.S.A. for the supply
of technical information for the manufacture of centrifugally
cast alloy steel tubes and other alloy steel castings. The
company is also entitled, during the period of the agreement, for
the right and licence to use the trade marks ABEX, THERMALLOY and
SUPERTHERM. Abex Corporation, U.S.A., had closed down their
factory in the states as also other divisions and discontinued
their association with the company.

- Issue 1,92,500 shares to Universal Ferro & Allied Chemicals, Ltd.
Mumbai and 28,800 shares to other promoters, etc.

1973 - 25,000 Pref. and 5,28,700 No. of equity shares issued at par:
1,50,000 No. of equity shares to Abex Corpn. U.S.A. without
payment in cash and the balance to the public. pref. shares
redeemable during 12th December 1985/88.

1975 - 6,00,000 rights equity shares issued at par in prop. 4:5.

1982 - For the first time, in the country company installed and
perfected automatic welding system for welding of reformer tubes.
A vertical centrifugal casting machine was also installed for
broadening and diversifying the product range.

1984 - Sales decreased further due to the availability of imported
reformer tubes at substantially lower prices in the market and
lower labour efficiency.

1985 - The setback was due to labour unrest for most part of the year,
sluggish market conditions aggravated by liberal import policy
and lower order booking by major clients like the public sector
steel plants.

1986 - The overall working resulted in losses mainly due to sluggish
demand for Reformer tubes by virtue of fertilizer glut in the

- 25,000-9.5% preference shares were due for redemption latest by
31st December, 1988. However, the company could not redeem these
preference shares on the due date. Application to issue further
redeemable preference shares equal to the amounts due (including
dividends) in respect of unredeemed preference shares under
section 80A of the companies Act 1956 as required by law had been
made to the company Law Board for which approval was still
awaited, preference dividends amounting to Rs.20,19,000 was in

1991 - The Company negotiated a fresh collaboration with a leading
German concern under the name Schmidt a Clemens GmbH and Co.

1992 - During December, the company allotted 6,25,000 No. of equity
shares of Rs.10 each at a prem. of Rs.42.50 per share to M/s.
Marker Stahl GmbH & Co. Germany, associate of Schimat & Ciemens
GmbH & Co., Germany the collaborators.


- Uni Abex Alloy Products Ltd has that the Company has recruited one Mr. Kishore Tamhaney as the 'Chief Operating Officer' (COO) of the Company on and from September 10, 2009
Oct 27, 12:00 am
Oct 27, 4:14 pm
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