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ZF Steering Gear (India) Ltd. Company History and Annual Growth Details

1981 - The Company was Incorporated into a public limited company in
June, at Pune. The Company was promoted by H.K. Firodia, J.H.
Munot and Zahnradfabrik Friedrichshafen AG, erstwhile West
Germany (ZF AG, West Germany).

- The Company's objects is to manufacture of mechanical steering
gears and hydraulic power steering gears.

- The Company entered into a licence and know-how contract with
Zahnradfabrik Friedrichshafen AG, ersthile West Germany (ZF).
Also for supply of all technical documentation, training of
personnel at the works of ZF AG, Germany and deputation of
personnel of ZF AG, Germany to India for setting up the plant.

1982 - 350 shares subscribed for by the signatories to the Memorandum
and Articles of Association. 14,99,650 shares issued at par of
which 3,90,000 shares of ZF Ag, West Germany and 5,99,650 shares
to promoters, etc. were reserved and allotted 5,10,000 shares
offered to the public in January 1983.

1984 - 7,50,000 right equity shares issued at par in the prop. 1:2.

1991 - The company issued non-convertible debentures worth Rs.50 lakhs
on private placement basis with the UTI.

1993 - The company produced and supplied power steering gears for light
commercial vehicles for Telco. The company also developed and
designed a power steering gear for Tata 207 range of vehicle.

- The Company proposed to expand the production capacity of
mechanical steering gears to 75,000 units per annum and proposed
to manufacture 3,600 power steering gears per annum.

1994 - 22,85,575 shares allotted on right basis.

1995 - During January/February, the company offered 22,50,000 No. of
equity shares of Rs.10 each for each at a prem. of Rs.30 per
share on right basis to the existing shareholders in the rate of
1:1. 22,43,675 shares were allotted. 6,325 shares were kept in
abeyance. Another 41,900 shares were offered to the employees.
All were taken up.

- 1,075 shares out of 6,325 shares kept in abeyance allotted.


- ZF Steering Gear India Ltd has inducted Mr. M L Rathi as a Non-Executive Independent Director of the Company at the meeting of Directors held on May 27, 2008 in the casual vacancy caused by the death of Mr. B N Deshmukh.
Oct 20, 12:00 am
Oct 20, 4:15 pm
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