Home  »  Company  »  Vesuvius India Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Vesuvius India Ltd. Company History and Annual Growth Details

YEAR EVENTS
1991 - The Company, which is a subsidiary of Vesuvius Group Ltd., U.K.,
(VGL) was originally incorporated as Vesuvius Refractories Ltd.
on 6th September, and obtained the Certificate of Commencement of
Business on 27th November, from Registrar of Companies (ROC),
West Bengal, at Calcutta.

- The Company, promoted by VGL (U.K.) in association with local
Co-promoters, had entered into agreements, effective 1st
November, with other Vesuvius Group Companies in Switzerland,
France and U.S.A.,to carry on agency business related to the sale
of the Group's products, viz.

1992 - The name of the Company was subsequently changed to Vesuvius
India Limited on 6th November.

- The Company entered into a Technology Licence Agreement with
Vesuvius Crucible Company, USA, on 28th September, for using the
latter's proprietary information to manufacture and service the
Company's products.

1994 - VIL started commercial production in July.

- The Company had envisaged a capacity utilisation of 700/a in the
first year of operation.

1996 - The Company has obtained the ISO 9002 certification from Lloyd's
Register Quality Assurance, London, on 11th January, within 18
months from the commencement of commercial production.

- The Company made an offer of 58,00,000 Equity shares of face
value Rs. 10/- each for cash at a premium of Rs. 30/- per share
aggregating Rs. 23,20,00,000 on Rights basis to the existing
Equity shareholders of the Company as on 29th November in the
ratio of two Equity shares for every five Equity shares held.

1997 - The company of the shareholders had approved the issue and offer
of Equity shares for cash at a premium upto an aggregate amount
of Rs. 30,00,00,000.

- Vesuvius India won the Annual Health & Safety Award for the year
on the basis of no 'lost time' and no reportable accidents during
the year, in the less than 150 employees' category. The Company
was also awarded the Worldwide Award of Honour for Health &
Safety.

1998 - The Company successfully commenced commercial production of Slide
Gate plates and nozzles on the 27th February.

- Vesuvius is a 51 per cent subsidiary of the Vesuvius group, a
world leader in continuous casting refractories (CCRs), which
are used in steel-making via the continuous casting route.

1999 - The Company took interest in the welfare of poor young girls in
tune with the year being declared as 'The Year of the Girl
Child'.

- The Technical Agreement was assigned in favour of the Company in
February, as such the technology is in the process of transfer
and absorption.

- Vesuvius India (VIL) is a wholly owned subsidiary of the
Vesuvius Group Ltd (VGL), the world's largest manufacturer of
continuous casting refractories.

- Vesuvius, it is learnt, has acquired the assets and equipments
and has been assigned the technical know how licence and agency
agreements from KIIL with effect from 19th February.

2002

-Board approves the purchase of Tundish Lining Products Business of Foseco India Ltd.

2003

-Reported 38% rise in the net profit during the quarter ended Sept 2003.


 
Subscribe now to get personal finance updates in your inbox!