Atlas Cycle Industries

YEAR                       EVENTS
 1950 - The Company was incorporated on 31st May, at Sonepat.
 
      - The Company's objects is to manufacture bicycles and bicycle
        components and parts.  Some of the trade names used by the
        company are `ATLAS', `ARMY', `EASTERN STAR' and `ZEBRA'.  The
        factory is located at Sonepat, near Delhi, and the factory
        buildings cover an area of about 2,50,000 sq. ft.
 
      - The capital structure in 1956.  3,144 pref. shares fully
 paid-up
        160 pref. shares 90% paid-up 255 pref. shares 50% paid-up.
 
 1969 - The Company sponsored a scheme for the manufacture of powered
        bicycles in technical collaboration with S.A.C.E.M. of
 France,
        one of the largest manufacturers of powered bicycles under
 the
        trade name `Velosolex'.
 
      - 1,10,000 bonus equity shares issued in the prop. 1:2.
 
 1970 - A new company under the name and style of Atlas Auto-Cycles
 Ltd., 
        was registered as a subsidiary of the company for this
 purpose
        on 9th March.  This company was to manufacture 50,000 powered
        bicycles per annum.  The company obtained Governments
 approval
        for investing Rs.10 lakhs in the equity capital of Atlas
        Auto-Cycles Ltd.
 
 1971 - The Collaboration agreement for the manufacture of powered 
        bicycles was unilaterally terminated by the foreign
 collaborator
        on technical grounds.  
 
 1972 - In January, the factory entered into a technical
 collaboration
        agreement with an Iranian party who proposed to manufacture
        bicycles and bicycle parts.  The company was to supply
 technical
        know-how etc. in consideration of some technical fees payable
 by
        the Iranian party.  
 
      - The Company also entered into another 10 year collaboration 
        agreement with the National Development Corporation of
 Tanzania
        for the manufacture of bicycles in that country.  This
 agreement
        was transferred to The National Bicycles Co., Ltd. Tanzania.
 
 1977 - 2,00,000 bonus equity shares issued in prop. 5:11.
 
 1978 - 1,10,000 bonus equity shares issued in the prop. 1:3.
 
 1979 - Punjab and Haryana High Court approved the amalgamation of
 this
        subsidiary with the company with effect from 1st January.
 
      - Authorised capital reclassified.  7,579 - 11% pref. and
 1,29,337
        No. of equity shares allotted to members of Atlas
 Auto-Cycles,
        Ltd. without payment in cash upon its merge with the company.
 
 1985 - The Company went ahead with its tube mill project at Gurgaon
        (Haryana).  A factory with a production capacity of 10,000 TPA
 of
        tubes, was under construction.
 
 1986 - Land and buildings of the company were revalued as on 30th
 June,
        and the net surplus of Rs 789.06 lakhs arising out of this
 was
        credited to capital reserve.
 
 1987 - 3,84,668 bonus equity shares issued in the prop. 1:2.
 
 1990 - 6,856 - 11% pref. shares were redeemed as on 31st March,
 1991.
 
 1991 - 723 - 11% pref. shares redeemed.  4,71,250 No. of equity
 shares
        issued on part conversion of pref.
 
 1992 - The company issued 494550 - 15% PCD of Rs.200 each on Rights 
        basis.  Of these Rs.130 of the face value of each debenture
 was
        converted into one equity share of Rs.10 each at a prem. of 
        Rs.120 per share.  Accordingly 471250 shares allotted.
 
      - Balance Rs.70 of the face value of each debenture was to be 
        redeemed at par in three instalments of Rs.25, Rs.25 and
 Rs.20
        at the end of 7th, 8th and 9th year respectively from the
 date
        of allotment of debenture ie., on January 2000, 2001 and 2002
 
        respectively.
 
 1994 - A sophisticated latest technology tube mill for rolling bigger
 
        dia tubes was installed and commissioned.
 
      - During October, November the company issued 8,25,000 - 12.5%
        second non convertible redeemable debentures of Rs.200 each
 with
        detachable warrants.
 
      - Rs.200 of the face value of each debenture was to be redeemed
 in
        three equal instalments at the end of 7th, 8th and 9th year
        respectively from the date of allotment of debentures ie., 
        November 2000, 2001, & 2002 respectively.
 
      - Each warrant entitles the holder to apply for one equity share
 of
        Rs.10 each at a prem. of Rs.230 per share between expiry of
 12
        months from the date of allotment of debentures.
 
      - 8,12,627 bonus equity shares issued in prop. 1:2.
 
 1995 - A number of new sizes were added to the existing product
 range.
        A godown was opened in Delhi & at Pune for sale of tubing.
 
 1996 - The performance of the second bicycle plant at Sahidabad
 showed
        an upward trend mainly due to the newly introduced `Laser'
 series
        of bicycles and aggressive marketing strategies etc.
 
      - The third bicycle unit with a modern state-of-the-art plant
 is
        situated on 16 acres of land at Malanpur, district Bhind, 
        Gwalior.  It has fully automatic computer controlled
 debrassing
        pre-treatment and paint plant.  Overhead conveyors running
 into
        kilometers have been provided for improved material handling. 
 
        Also, specially designed ramps have been provided for loading
        and unloading of trucks.
 
      - 7,87,937 No. of equity shares allotted (prop. Rs.5 per share)
 
        against detachable warrants along with 12.5% Right NCDs of 
        Rs.200 each.
 
 2000 - Noted Industrialist and Atlas Cycle Industries Ltd. president
              Bishamber Das Kapur passed away on 16th August night at
              the Escort Heart and Research Institute.
 
 2001 - The name of the company be changed as `Atlas Cycles (Haryana)
 Ltd'.
 
 2004
 
 - Atlas ropes in Sunil Shetty, Sania Mirza as brand ambassadors