Bosch

1951
 
 - The Company was Incorporated on 12th November, in Chennai and
 shifted
 to Bangalore on 16th November, 1953.  The main objects of the
 company
 are to manufacture spark pluge for petrol engines and fuel injection
 equipment for diesel engines in technical and financial
 collaboration
 with Robert Bosch GmbH, West Germany.Trade Mark is `MICO'.
 
 - Except for a 16 day strike at the Nasik factory towards the end of
 year which continued for a few days in January 1984, the industrial
 relations contributed to the improved working.  The market situation
 improved during the first half of 1985.  However there was a
 slackening
 of demand in the second half, especially in the last quarter, due to
 poor monsoons and recession in the commercial vehicle industry.
 
 1953
 
 - Another class of Redeemable preference shares was also introduced
 Right issues were made in August 1952, August 1953 and November
 1955.
 
 1961
 
 - In March 1959, 25,000 No. of equity shares were issued to Robert
 Bosch, West Germany.  In March, 1962, 30,000 Right equity shares
 issued
 at a prem. of Rs.10 per share in the prop. 1:5.
 
 1963
 
 - In January, 45,000 bonus equity shares issued in the prop. 1:4.
 
 1964
 
 - In February, 1966, 45,000 right equity shares issued at a prem. of
 Rs.10 per share in the prop. 1:5.  In September, 1966, 90,000 bonus
 equity shares issued in the prop. 1:3.  In October, 1966, further
 15,000 right equity shares issued at a prem. of Rs.10 per share in
 the
 prop. 1:24.
 
 1969
 
 - In January, the Mysore Branch of the Central Bank of India Ltd.,
 offered for sale - 2,000 No. of equity shares of the company at a
 prem.
 of Rs.70 per share in order to comply with the listing requirements
 of
 the stock Exchange, Mumbai.
 
 - At the time of incorporation, the company had 3 classes of shares
 viz., `A' ordinary, `B' Ordinary and preference.
 
 1973
 
 - 3,75,000 bonus equity shares issued in the prop. 1:1.
 
 - 95,588 No. of equity shares issued at Rs.175 per share of which
 48,000 shares issued to Financial Institutions against conversion of
 loan from them and 47,588 No. of equity issued as right shares to
 members other than Robert Bosch GmbH in the prop. of 3:20, - Rs.40
 (Rs.25 on capital account and Rs.15 as share prem.) was called up.
 Further calls payable were Rs.50 (Rs.25 on capital account and Rs.25
 as
 share prem.) (31st August 1974), Rs.50 (Rs.25 on capital account and
 Rs.25 as share prem.) (30th December, 1974), Rs.35 (Rs.25 on capital
 account and Rs.10 share prem. (30th August 1975).
 
 1976
 
 - 4,22,794 bonus shares issued in prop. 1:2.
 
 1980
 
 - A letter of intent was received for an expansion of manufacturing
 capacity.
 
 1982
 
 - 6,34,191 bonus equity shares issued in prop. 1:2.
 
 1985
 
 - A letter of intent for diversification into auto electricals was
 received and approval for the import of capital goods was also
 obtained.
 
 1986
 
 - Sales turnover registered only 7.3% growth due to recessionary
 trend.
 Both commercial vehicle and tractor production dropped.
 
 - 19,02,573 bonus equity shares were issued in prop. 1:1.
 
 1987
 
 - Under the modernisation programme, the company added a number of
 new
 machines both at the Bangalore and Nasik factories.  Also a fourth
 generation on-line computer facility was installed at the Bangalore
 factory.
 
 - The Government of India approved the enhancement of the licenced
 capacity of multicylinder pumps and nozzle holders to 2,65,500 nos.
 and
 24,80,000 nos. respectively.
 
 - A letter of intent was received for the manufacture of additional
 165,000 elements and 215,000 delivery valves for meeting export
 orders.
 
 - Also, a letter of intent was received for the manufacture of
 additional 120,00,000 each of elements and delivery valves to cater
 to
 spares market.
 
 1988
 
 - The Company was awarded the status of Trading House.
 
 - Improvement in communication facilities had been effected through
 modernisation of telephone and telex equipment.
 
 - A `Cold Start' facility enabling testing of engine at temperature
 as
 low as -20oc was added to the unit.  The Centre was appointed as a
 Bosch Global Development Centre with the global responsibility for
 design and development of small single cylinder pumps for the entire
 Bosch Group.  The centre had already developed a new type of
 single-cylinder pump for vehicular and stationery applications.
 
 1989
 
 - The market for single-cylinder pump remained sluggish due to
 shortage
 of pig iron, credit squeeze etc.
 
 1991
 
 - Approvals were received to increase production of fuel injection
 equipment and parts thereof, for spark plugs at Naganathapura and
 Nozzle at Nasik factory.
 
 - Technical collaboration agreements were entered into for the
 manufacture of fine horning machines and super finishing machines.
 
 1992
 
 - Sales of the original equipment were adversely affected due to
 recessionary trends in the automobile sector.
 
 - The Company introduced certain new items such as halogen bulbs,
 ignition cells, horns, voltage regulators, cluth plates and clutch
 cover assemblies for the automobile sector.
 
 - A technical collaboration agreement was entered into with Witzig
 and
 Frank Turnatic GmbH for the mechanical machining systems.
  
 - Another agreement was entered into with Robert Bosch GmbH, West
 Germany for the manufacture of bag form fill and sealing machines It
 was also planned to manufacture portable electric power tools with
 technical collaboration from Robert Bosch GmbH.
 
 - The Company was awarded the ISO 9001 certification by the
 Technischer
 Ueberwachungs-Verein, Germany.
 
 1993
 
 - Sales, particularly in the commercial vehicle and the tractor
 sectors
 were affected due to continued recessionary trends in the automobile
 industry.
 
 - The Company introduced new automotive accessories such as
 stop-and-tail lamps, fog lamps, new varieties of horns.
 
 - In the All-India Skills Competition held by the Government of
 India,
 the MICO Vocational Centre received the Best Establishment Award for
 the 12th time.
 
 1994
 
 - Motor Industries Software Services Ltd. (MISSL) and Motor
 Industries
 Trading Ltd.  (MITL), which became subsidiary companies from 25th
 July.
 
 1996
 
 - The Company has entered into a Memorandum of Understanding with
 the
 Government of Rajasthan to set up facilities near Jaipur for the
 manufacture of auto ancillaries/auto components including Fuel
 Injection Equipment.
 
 - Dr. Wolfgang Hugo and Dr. Eberhard Baltin retired from the Board
 as
 Director with effect from 17th June.
 
 - Dr. Hermann Eisele whilst continuing on the Board, ceased to be
 Chairman from 18th June, and Mr. Hubert Zimmerer was elected in his
 stead.  The Board acknowledges the contribution of Dr. Eisele as
 Chairman and welcomes Mr. Zimmerer as Director and Chairman of the
 Board.
 
 1997
 
 - The Company launched the state-of-the-art Blaupunkt range of car
 audio systems in June.
 
 - All the three plants of the Company at Bangalore, Nashik and
 Naganathapura have been awarded the QS 9000 certificate by TUV,
 Essen.
 
 - Dr. H. Bertling was redesignated as Managing Director and Mr. 
 J.L.
 Pasricha and Mr. D. Schalomon were redesignated as Joint Managing
 Directors with effect from 19th September.
 
 1998
 
 - The Company has become a market leader for Electrical Power Tools
 and
 accessories.
 
 - In 1997 and 1998, three apprentices trained at the Nashik plant
 won
 silver medals at the Regional Skills competition.
 
 1999
 
 - The Company is proposed to revive the offer for buy back of up to
 200,000 No. of equity shares at Rs. 4,200 per equity share. 
 
 - Dr. H. Eisele retired from the Board with effect from 24th June.
 
 - The appointment of Mr. Nobis as Joint Managing Director from 17th
 December.
 
 2000
 
 - Andreas Nobis has been appointed as the new Managing Director of
 Motor Industries Co. Ltd. with effect from 1st July.
 
 - Due to a deprecssion in the automobile sector, MICO is introducing
 a
 five-day working week in its plant, with the drop in sales to
 original
 equipment manufacturers.
 
 - The Company has decided to introduce a five-day working week in
 its
 Bangalore plant with immediate effect, due to low demand from its
 customers in the tractor and commercial vehicle industry.
 
 - Motor Industries Co. (MICO) has received the approval of
 shareholders
 to buyback upto 2 lakh shares from the existing shareholders.
 
 - The Company has approved and recommended to shareholders for their
 approval to buyback up to 2,00,000 No. of equity shares of the
 company
 from existing shareholders on a proportionate basis through Tender
 offer or from the open market aggregate not exceeding 5.55% of the
 existing paid-up equity capital of the company to be financed out of
 the free reserves of the company, at a maximum price not exceeding
 Rs.
 4000/- per equity shares such that the aggregate consideration for
 the
 shares bought back do not exceed 25% of the capital and free
 reserves
 of the company.
 
 - M Lakshminaryan has been appointed as the new joint managing
 director
 of Mico with effect from 1st October.
 
 - The Company has fixed the price for buyback of equity shares of
 the
 company at Rs. 3800/- per equity shares.
 
 2001
 
 - MICO, the automotive ancillary company, has decided to suspend
 work
 for five days from June 18. The company, in an official announcement
 on
 June 13, said the adverse business situation and curtailment of
 orders
 by customers had necessitated this step.
 
 2002
 
 -Motor Industries Company Ltd., has postponed its investment worth
 Rs.250cr
 because of delay in implementing Euro II emission norms in the
 country.
 
 -MICO has completed its buyback programme of 200,000 equity  shares 
 for the total cost of Rs.50cr.
 
 -MICO Launched India's first Bosch Car Services Workshop(BCSW) in
 Delhi and has 
 entered into car servicing business.
 
 -Nearly 5% of MICO's workforce opted for an early voluntary
 retirement scheme.
 
 -Motor Industries Company Ltd has launched new range of products
 consisting of
 in-car multimedia systems, the San Fransisco CD-70, in-car MP3 player
 and velocity
 range of amplifiers,speakers and sub-woofers.
 
 -The Industrial Equipment Division, MICO-Bosch Division has developed
 endurance
 testing equipment for Timken.
 
 -MICO Ltd has informed BSE that the MICO Bangalore Plant will have a
 5-day 
 working week.
 
 2003
 
 -MICO Board has appointed Dr.Albert Hieronimus as Additional Director
 and Managing Director of the company.
 
 -Mico Employees Association has gone on an indefinite strike for an
 inconclusive talks 
 with the management.
 
 -Motor Industries Company Ltd has informed that Company's Spark Plug
 manufacturing 
 activitiy at Naganathapura works has been discontinued.
 
 -Bosch Security Systems launched Network Video Solutions, a Video
 Solutions, a video surveillance system that allows remote monitoring
 over IP (Internet Protocol) networks.
 
 2004
 
 -Bosch rolls out new surveillance system
 
 2005
 
 - Bosch moves production of key products to MICO plants in India
 
 -Mico launches 30 millionth PF pump