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HMT
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Company History - HMT
YEAR                                                          EVENTS
 1953 - The Company was Incorporated in Bangalore.  The Company was 
        converted into a Public Limited Company on May 13, 1977.  The
        main objects of the Company is Manufacturing of the Machine
        Tools, Metal forming presses and press brakes, pressure die,
        casting machines and automatic plastic injection moulding
        machines, Automatic plastic injection moulding machines,
 Paper
        cutting machines, Automatic plastic injection moulding
 machines,
        Paper cutting machines, Tractors 25/35/55 HP, Lamps and Lamp
        making machines, Printing Machinery, Printing Machinery,
 Watches.
        Some of the trade names of the watches manufactured are
 Janata,
        Sona, Pilot, Tarun, Nutan, Jawhar, Automatic Day and Date,
 Priya,
        Chinar, Nishat, Rakhee, Avinash and Kohinoor.
 
      - The Machine Tool Division at HMT Bangalore, was the oldest
        manufacturing unit of the Company and the product lines
 consist
        of 16 types of metal working machines.  The Die Casting
 Division
        was set up for the manufacture of Die Casting and Plastic
        Injection Moulding machines in technical collaboration with
        Reifenhaeuser GmbH & Co. of West Germany.
 
 1961 - The Watch Factory at Bangalore had two operating divisions
 the
        Watch Factory Division: set up during the year in technical
        collaboration with Citizen Watch Co., Ltd., Tokyo, this
 division
        started with manufacture of hand winding watches.  A new
 plant
        was set up to manufacture self-winding watches in
 collaboration
        with the same Japanese firm and Horological Machinery:
 Division
        was established for the manufacture of sliding headstock
        automatics in technical collaboration with M/s. Jos
 Petermann,
        Switzerland.
 
      - The Watch Factory at Srinagar was set up for the manufacture
 of
        3 lakh hand winding watches.
 
 1963 - The HMT, in Pinjore have two operating divisions attached to
 it,
        viz., Machine Tool Division and Tractor Division.  The Machine
 
        Tool Division was set up during the year.  The Tractor
        Divisions was set up in technical collaboration with Mototov
        Foreign Trade Corporation, Prasha, Czechoslavakia.
 
 1964 - The Two operating divisions attached to HMT, Kalamassery,
 were
        the Machine Tool Division and the Printing Machine Division
 set
        up in collaboration with Societa Nebiolo, Turin, Italy.
 
 1965 - The HMT at Hyderabad had 3 operating divisions, the Machine
 Tool
        Division primarily for the manufacture of special purpose
 machine
        tools.  The Press Division was set up in technical
 collaboration
        with M/s. Verson Allsteel Press Co., Chicago, U.S.A.  The
 Lamp
        Division was established for the manufacture of lamps and
 lamp
        components in collaboration with United Incandescent Lamp and
        Electrical Co., Ltd. (Tungsram), Budapest, Hungary.
 
 1975 - The HMT at Ajmer was set up by the Govt. of India as the unit
 of
        Machine Tool Corporation of India, Ltd. with effect from 1st
        April, the unit was merged with HMT.
 
 1976 - The manufacture of critical components like hair spring and
 main
        spring were also taken up by setting up a new plant by the
 Watch
        Factory Division at Bangalore.
 
      - The following collaborations agreements were concluded during
 the
        year: With the Cross Company, Fraser, Michigan, U.S.A. for
 the
        manufacture of special purpose machines in Hyderabad, With
        M/s. Creusot - Loire, Paris, for the manufacturing of rotary
 web
        offset printing machines, With M/s. Laeis - Werke AG, Trier,
 West
        Germany, for the manufacture of refractory presses, A MOU
 with
        M/s. Tesa SA, Renens, Switzerland, a subsidiary of Brown &
 Sharpe
        Manufacturing Co., Rhode Inland, U.S.A., for the manufacture
 of
        precision measuring instruments.
 
      - HMT (International), Ltd., with an issued capital of Rs 6
 lakhs
        is a wholly owned subsidiary of the Company.
 
      - All shares held by the President of India and his nominees. 
 Out
        of the issued capital, 7,122 No. of Equity shares were issued
 as
        fully paid-up without payment in cash and 40,000 fully paid
        Equity shares were allotted on amalgamation of the erstwhile
        Machine Tool Corporation of India, Ltd., Ajmer.
 
 1977 - All shares issued to Govt. of India.
 
 1978 - The Company undertook a scheme to expand the capacity of
 Watch
        Factory to 4 lakh watches in 1979 and 5 lakh watches in 1980.
 
      - The Govt. approved a total investment of Rs 24.50 crores in
 the
        watch factory to be established at Tumkur in Karnataka State
 for
        the manufacture of 2 million watch movements.
 
      - The Company undertook to set up a project for the manufacture
 of
        4 million fluorescent tubes per annum in collaboration for
        assembly line with Tungsram of Hungary at a capital outlay of
 Rs
        3.19 crores.
 
      - The Company undertook to diversify into the field of
 precision
        meterological and measuring instruments at Srinagar.  Govt.
        approval was obtained during 1979-80 and negotiations were in
        progress for foreign collaboration.
 
      - The Company undertook to set up a factory in Aurangabad, a
        backward area in Maharashtra, for the manufacture of dairy
        machinery.
 
      - Industrial licence was obtained and a technical collaboration
        agreement was entered into with Fortschritt Landmaschinen
        Export-Import of German Democratic Republic (FLM).
 
      - In order to increase the capacity of tractor manufacture from
        12,000 to 15,000 per annum, the Company undertook to set up a
        second line of assembly operations at Mohali, Punjab.
 
      - The Company submitted a feasibility report to Govt. for the
        manufacture of electronic watches.  The Company concluded a
 MOU
        with Hitachi and Citizen of Japan.
 
      - The Company offered technical collaboration to Industrial &
        Commercial Development Corporation of Kenya (ICDC) to set up
 a
        plant for the manufacture of machine tools in Kenya.
 
      - The company entered into an agreement with the Federal Govt.
 of 
        Nigeria to set up a plant for the manufacture of machine tools
 in
        Nigeria.  A new company under the name Nigeria Machine Tools,
        Ltd. was incorporated in Lagos.
 
      - With effect from 12th September, the name of the Company was
        changed from Hindustan Machine Tools, Ltd. to HMT Ltd.
 
 1979 - All shares issued to Govt. of India.
 
 1980 - The Company entered into a collaboration agreement with
 Pegard
        S.A. of Belgium for adding new models to the existing range
 of
        Horizontal boring machines.
 
 1981 - The Company proposed to manufacture silver oxide miniature
        batteries in collaboration with Hitachi-Moxcell Ltd., Japan.
        These would be used in electronic and quartz watches.
 
      - The Company received an industrial licence for the production
 of
        one million stepper motors required for electronics watches.
 
      - The subsidiary formerly known as Indo Nippon Precision
 Bearings
        Ltd., changed its name to HMT Bearing Ltd. on 1st December.
 
 1993 - To capture the growing urban market for fashionable watches,
 two
        new brands viz., `Ramani' for gents and `Utsav' for ladies
 were
        launched.
 
      - Equity shares subdivided.  504,19,400 shares issued to
 Government
        of India.
 
 1995 - All shares issued to Govt. of India.
 
 1996 - The Company has decided to convert Lamp Division into a
 separate
        wholly owned subsidiary.
 
      - All shares issued to Govt. of India.
 
 1997 - Production also suffered due to slowdown in the economy
 coupled
        with stiff competition from imported machines.
 
      - The Tractors Group launched a 45 HP Coastal Special model
        tractor for application in coastal areas on Commercial basis.
 
      - A 59 HP model tractor with Power Steering was also launched
        during the year.  Orchard Special model tractor in 25 HP
 range
        was developed and was under test marketing.  Modernisation
 cum
        Expansion plan for the Tractor division was chalked out for
        increasing the production capacity of Tractor division to
 30,000
        tractors at a cost of Rs 110 crores in the next two years.
 
      - The entire networth of this subsidiary was eroded and a
 reference 
        was made to BIFR as a sick company under the Sick Industrial
        Companies (Special Provisions) Act, 1985.
 
      - All shares issued to Govt. of India.
 
      - The public sector HMT has indigenously manufactured
 four-colour
        offset printing press for the first time in the country in
 its
        unit at Kalamassery.
 
      - The HMT has introduced three new models the HMT 3022, HMT
 3522
        and HMT 4511 coastal special have been fitted with fuel
 efficient
        engines and heavy duty transmission.
 
      - The machine tools division of HMT has entered a new area of
        manufacturing with press tools and dies.
 
      - The Machine tools division has also entered into a joint
        working arrangement with MS Giana, Italy, for the manufacture
        heavy duty CNC lathes for the defence sector.  This range of
        products will be built for the first time in the country.
 
      - HMT has signed a memorandum of understanding with the Union
        government under which it is expected to increase its
 turnover
        to Rs.1,160 crore and post a net profit of Rs.10.45 crore for
        the year ended March 1998.
 
      - HMT introduced ADD and dater watches priced at Rs.750/900 in
        September.  On August 15 the company launched Swarna series.
 
 1998 - HMT International Ltd, a wholly-owned subsidiary of HMT, has
        bagged a Rs.13-crore order for setting up an Entrepreneur
        Technical Development Centre (ETDC) at Dakar in Senegal.
 
      - HMT International has already set up successfully training
        Algeria and the Maldives.  A batch of 17 Senegalese
 instructors
        has already undergone training at HMT's international
 training
        centre in Bangalore.
 
      - The company is launching 15 new models in the automatic
 day/date
        range.
 
      - HMT would issue 41,25,000 ordinary shares of Rs.10 each to
 the
        government.  The company board has recently approved the
        allotment of these shares.  The company had already
 approached
        the Bangalore Stock Exchange for issuing these shares to the
        government.  A total of 10,06,45,165 equity shares of Rs.10
 is
        listed with the bourse.
 
      - Machine tools giant HMT is in touch with world's number one
 MT
        manufacturer Yamazaki Mazak to enter into a possible alliance
        to manufacture the latter's machine cutting tools under a
        buy-back arrangement.
 
      - HMT Ltd has bagged the FIE award for the best quality, design
        and aesthetic appearance of a product at IMTEX '98.
 
      - HMT Ltd today announced a special voluntary retirement scheme
        (VRS) for its lamp division employees under which those who
 opt
        for it can remain at home with half their pay till such time
        that the public sector behemoth receives its due from the
        National Renewal Fund.
 
      - HMT International Ltd., a wholly owned subsidiary of HMT
 Ltd.,
        which has recently diversified into software exports has
        entered into a strategic alliance with A1- pha data LLC of
 Abu
        Dhabi, a part of 0 million US group.  The two companies
 would
        jointly develop software business for HMT's Erp Solutions
 Vikas.
 
      - An MoU (memorandum of understanding) signed between the
        Government and HMT has delegated power to HMT to sanction
        schemes for incentives cum rewards.
 
      - The Government is making a fresh bid to privatise HMT
 Tractors, a
        profit-making unit under the fold of public sector major HMT
 Ltd.
 
      - HMT has two fully-owned subsidiaries now - HMT
        (International) Ltd, which is a trading company and HMT
        (Bearings) Ltd, which manufactures ball and roller bearings.
        It also has a partly-owned subsidiary - Praga Tools Ltd -
 based
        in Secunderabad.
 
      - The union minister of state for industry released a new HMT
        automatic day date watch Ranjit incorporating euro-style
        dial, and a new ladies watch Preeti.
 
      - The HMT division has a capacity of manufacturing 18,000
 tractors.
 
      - The company has introduced 350 range of Citizen watches in
 Mumbai
        along with its latest Eco-Drive models, which absorb power
        thorough any source of light.
 
      - The company has entered into a manufacturing and marketing
        alliance with Tennmax Industrial Ltd. of Hong Kong.
 
      - HMT Ltd has been named as one of the top ten brands in India
 by a
        recent survey conducted by A&M-ORG-MARG.  HMT has been ranked
 as
        the top seventh brand among the main brands in the annual
 survey
        that covers 60 brands from all over the country.  HMT is also
 the
        only public sector company whose brand has features among the
 top
        ten in the survey.  The brand has emerged as seventh from the
        22nd position held last year.
 
      - The company also proposes to convert 30% of the loan
 component
        into equity.
 
      - Citizen Watches (India) Limited, is a joint venture between
 the
        Citizen Watch Company, Japan which holds a 51 per cent stake
        and Doshi Time Industries holding 49 per cent stake.  It has
 a
        total paid up capital of Rs eight crores.
 
      - An MoU (memorandum of understanding) signed between the
        Government and HMT has delegated power to HMT to sanction
 schemes
        for incentives cum rewards.
 
 1999 - The Industry Ministry has directed the state-owned Hindustan
        Machine Tools to explore possibilities of joint venture
 formation
        for its watch division.
 
      - The company has tied up with Tennmax of Hong Kong and is
        currently marketing the HMT-Tennmax brand in India.
 
      - After Kenya and Nigeria, HMT had signed a MoU for setting up
 a
        watch assembly unit Zimbabwe.
 
      - The shareholders of Hindustan Machine Tools Ltd (HMT)
 approved
        a proposal to increase the company's authorised share capital
        to Rs 200 crores from the present Rs 135 crores.
 
 2000 - Icra has assigned an LAAA (SO) rating and an MAAA (SO) rating
 to the Hindustan 
              Machine Tools (HMT) bonds of Rs 469 crore 10-year tenure
 and Rs 40.43 two-year
              tenure.
 
            - HMT (International) Ltd., a wholly owned subsidiary of
 HMT Ltd., has been
              awarded the EEPC trophy for its achievements in export
 of technical services during
               the year 1998-99.
 
 2001- Mr Manohar Joshi, Union Minister for Heavy Industries and
 Public Enterprises, has unveiled the HMT             4922 tractor at
 a launch ceremony organised at Pinjore, Chandigarh. With the
 introduction of the new actor, 
 
 2002
 
 -HMT Ltd has informed that consequent upon relinquishing of the
 charge of Chairman & Managing Director, Tractor, upon resignation by
 Mr R A Sharma on July 04, 2002 Mr M S Zahed, Director, Organisation &
 Management has taken additional charge of the post of Chairman &
 Managing Director, Tractor of the Company.
 
 2003
 
 -HMT Ltd has informed BSE that pursuant to Order dated January 9,
 2003 from the Department of Heavy Industry, Ministry of Heavy
 Industries & Public Enterprises, Government of India, New Delhi, Shri
 M.S. Zahed, Chairman & Managing Director (Acting) and Director
 (Organisation & Management) has been appointed as Chairman & Managing
 Director of the Company for a period of 5 years from the date he
 assumes charge of the post or till the date of his superannuation or
 until further orders, whichever is earlier. Shri.M.S Zahed assumed
 charge of the post of January 09, 2003.
 
 -HMT enters into Memorandum of Understanding with PNB, UCO Bank and
 State Bank of Mysore and has launched SBM-HMTAgri Farm Scheme to
 promote Agriculture mechanisation
 in south India.
 
 -Pinjore Unit of HMT at Chandigarh is facing a financial crisis and
 turnover has dropped
 to 50-60cr .
 
 -Shri Naresh Chaturvedi has been appointed as a part time official
 Director on the 
 Board of Directors.
 
 -Shri Navin Kumar, Joint Secretary to GOI has been appointed as Part
 Time Official
 Director on the Board of Directors of the company.
 
 2004
 
 -HMT Ltd. has informed that the equity shares of the Company have
 been delisted from the Bangalore Stock Exchange Limited, the Regional
 Exchange for HMT Limited, with effect from January 3, 2004.
 
 -HMT signs agreement with UK-based Trantor for high power tractors
 
 -HMT bags  CMTI-PMT Trust Award
 
 -HMT enters into a Technology Collaboration Agreement with M/s
 Trantor Vehicles Ltd
 
 -HMT Ltd. enters into a Technology Collaboration Agreement with
 Trantor Vehicles Ltd. U.K.
 
 -Signs MoU with State Bank of India (SBI) for tractor finance
 
 2005
 
 -HMT inks agreement with ONGC, MRPL
 
 -HMT in dialogue with Japanese co for MUV
 
 2006
 
 -HMT Ltd has Shri. R Asokan, Director (Finance), Department of Heavy
 Industry, New Delhi has been appointed as Part-time Official Director
 on the Board of the Company vide Presidential Order dated October 30,
 2006, with effect from October 30, 2006
 
 -Hmt Ltd. has informed that HMT (International) Limited, the wholly
 owned Subsidiary of HMT Limited, Bangalore, would set up
 Indo-Zimbabwe Technology Centre (IZTC) in Harare and India Technology
 Centre (ITC) in Bulawayo.
 
 -HMT Ltd has informed that the Company has established a high tech
 Engine Emission Testing Laboratory in R&D Centre at its Tractor
 Division, Pinjore at an investment of Rs 50 million. 
 
 2007
 
 -HMT Ltd has appointed Shri. N Gokulram, Additional Secretary &
 Financial Adviser, Ministry of Heavy Industries & Public Enterprises,
 as Part-time Official Director on the Board of the Company vide
 Presidential Order dated January 22, 2007, with effect from January
 22, 2007 and until further orders vice Shri. R Asokan, Director
 (Finance), Department of Heavy Industry, New Delhi.
 
 - Dr. Surajit Mitra has been appointed as Part-time Official Director
 on the Board of the Company vide Presidential Order
 F.No.5(35)/1995-PE.X (Vol.II) dated March 06, 2007, until further
 orders with effect from March 06, 2007.
 
 2008
 
 - HMT Ltd. has informed that Shri B.S. Meena has been appointed as
 Part-time Official Director on the Board of HMT Limited vide
 Presidential Order F. No. 5 (35)/ 1995- PE. X dated January 25, 2008,
 until further orders with effect from January 25, 2008.
 
 - Hmt ltd has appointed Shri S. Behuria, Additional Secretary &
 Financial Adviser to Government of India, Ministry of Heavy
 Industries & Public Enterprises, New Delhi, as Part-time Official
 Director on the Board of HMT Limited vide Presidental Order F. No.
 5(35)/1995-PE.X dated October 14, 2008, until further orders with
 effect from October 14, 2008. Further the Company has submitted the
 List of Directors of the Company as on October 14, 2008.
 
 - HMT Ltd has appointed Shri S G Sridhar, General Manager
 (Technical), Hindustan Latex Ltd, as Director (Operations) on the
 Board of the Company with effect from December 15, 2008, vide
 Presidential Order dated October 22, 2008.
 
 2010
 
 - Hmt Ltd has informed that Shri Harbhajan Singh has been appointed
 as Part-time Official Director on the Board of the Company with
 effect from January 11, 2010
 
 2011
 
 -Shri S.G. Sridhar has been appointment as Chairman & Managing
 Director of the Company.
 
 2012
 
 -Dr. Vijay Shankar Madan has been appointed as Part-time Official
 Director on the Board of the Company.
Source : Dion Global Solutions Limited
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