YEAR                       EVENTS
 The Company was incorporated as a Private Limited Company on 29th
 July 1988.  The Company commenced trading in glass bottles on a small
 scale.  The Company has been converted into a Public Company on 30th
 September, 1993 and has obtained a change of name certificate upon
 conversion from registrar of companies, Maharashtra on 19th November
 1993.  The Company has been promoted mainly by Shri P. K. Pillai and
 Shri Rajesh K. Pillai.
 
 The Company had set up a plant for manufacture of USP Type 1
 (Neutral) (furnace melting capacity of 20 tonnes per day) ORUSP Type
 III (Sodia Lime) (furnace melting capacity of 25 tonne per day) glass
 containers with accent on small sized bottles and vials to cater
 primarily to the cosmetics, pharmaceuticals and liquor industry.
 
 The main objective of the company is to manufacture glass
 containers.
 
 1994 - During August/September the company offered 55,30,100 No. of
        equity shares of Rs. 10 each for cash at par of which
 30,30,100
        shares were offered to the promoters, directors, their
 friends
        and relatives (all were accepted).  5,00,000 shares were
 offered
        to NRIs (all were accepted).  5,00,000 shares were offered to
        Mutual Funds (only 2,50,000 were accepted).  15,00,000 shares
        were offered to public (all were accepted including 2,50,000
        shares not accepted by the Mutual Funds).  Additional 11,800
        shares were allotted to public on account of rounding off to
 the
        nearest market lot.
 
 1995 - The performance of the company was affected due to the shut
 down
        of furnace for nearly four months for carrying out urgent
 cold
        repairs.  The situation was compounded further by the
        recessionary condition in the pharmaceutical industry.
 
 1996 - 6,15,300 No. of equity shares allotted to promoters on
        preferential basis.