1974 - The Company was incorporated on 18th February at Ahmedabad.
Company was promoted by Mr. Yogesh T.Maneklal and
Industries Ltd. It manfufactures hydraulic equipments
- The Company entered into technical and financial
with G.L. Rexroth GmbH, West Germany, for the
manufacture of hydraulic
equipments. Under the agreement the collaborators were
to provide the
technical know-how, manufacturing rights and continued
for the manufacture of hydraulic equipments.
- The company was to pay them royalty at the rate of 4%,
subject to Indian taxes
on the net in-factory sale prices of the products, less
the landed cost of all
imported components including freight, insurance, and
customs duty, payable
1989 - The collaborators also agreed to subscribe the 2,62,500 No. of
of Rs 10 each of the Company.
- The Company turnover improved to Rs 12.46 crores
representing a growth
of 36% over the annualised figures of the previous year.
performance was attributed to improved efficiency in
indigenisation of imported components.
1990 - The company undertook the third phase involving a capital
layout of Rs 150
lakhs, Under the on going modernisation programme, it
also installed three
more sophisticated CNC tools.
1991 - The Company has to set-up an Assembly-cum-Manufacturing Unit
Industrial Area, MIDC, New Bombay.
- Tthe Company proposes to issue Secured Non-Convertible
Debentures to the
extent of Rs. 100 Lacs and ěplace them privately with
the Financial Institutions.
- The Company has issued 7,50,000 No. of Equity Shares of
Rs. 10/- each for cash
at par, by way of Rights to augment the long term
resources of the Company for
meeting its Working Capital Requirements and to part
finance the normal Capital
1992 - The Company's Collaborators Mannesmann Rexroth GmbH, Germany
presently holds 35% of the paid-up Capital of the
company, has agreed in
principle to increase its equity holding to 51% of the
Paid-up Capital by
subscribing to the requisite number, of Equity Shares
at a price of Rs.35/- per share.
- 7,42,500 No. of Equity Shares of Rs 10/- each at a
premium of Rs 25/- per
share were allotted to M/s Mannesmann Rexroth GmbH,
Germany, on 31st
October, so as to increase its Equity Holding in the
Company to 51% of the
Paid-up Capital 7,500 No. of Equity Shares at the
same price were allotted
to the employees of the Company on 31st October, to
round up the
Paid-up Capital to Rs 300 Lacs.
1993 - The Company has been appointed as its Exclusive Agent by
Star GmbH, Schweinfurt, Germany for sale of Linear
Motion products and
- The Company held 1,75,000 No. of Equity Shares of Rs 10/-
each in M/s CG
Hartmann & Braun Limited, New Delhi.
1994 - The Company has been appointed as the exclusive Agents by
for sale of AC and DC Motors.
- The Company proposes to issue 15,00,000 No. of equity
shares of Rs.10/- each for
cash at a premium of Rs.25/- per share on Rights basis to
the existing Shareholders
of the Company in the proportion of one share for every
two shares held.
- The name of the Company changed to Mannesmann Rexroth
1995 - With the over all improvement in the Industrial growth and
economy in general,
comfortable order book position and contribution from
the EOU Project being
set-up by the Company.
1997 - Preferential issue of 7,99,600 No. of equity shares of the
Company of Rs. 10/-
each for cash at a price of Rs. 59/- per equity share.
- Mr. R.N. Mafatlal, the Chairman of the Board of
Directors of the Company
resigned as Director of the Company on 23rd July.
- Mr.S. Gandhi resigned as the Managing Director of the
Company with effect from
- Mr. W. Wagner has assured the office of the Managing
Director of the Company
with effect from 1st April.
- The Commercial production of 100% Export Oriented Unit
1998 - The Company proposes to set up a design Center at its
- Dr. W. Philipp was appointed as a Director in the casual
vacancy caused by the
Resignation of Dr. Dietmar Straub.
1999 - Dr. Albert Hieronimus and Dr. Dietmar Straub resigned as
Directors of the
Company with effect from 23rd January.
- Mr. Heribert Ott was appointed as a Director with effect
from 23rd January.
- The Company has successfully implemented a Voluntary
to reduce the excess man-power at the Navi Mumbai, Vatva
Plants and offices.
- The Company undertakes jobs for development of designs
relating to engineering
by using computer-aided design (CAD) techniques, in
- Dr. H. Geis resigned as a Director of the Company with
effect from 24th November.
- The manufacturing plants at Ahmedabad (including the
Export Oriented Unit) and the
Sales Branches at Ahmedabad, Bangalore, Calcutta, Delhi
and Mumbai have received
the TUV CERT, ISO-9001 CERTIFICATION by RWTUV of Germany
until October, 2002.
2000 - The company has signed an Agreement for transfer/assignment of
leasehold land along with building, factory shed, etc.