1978 - The ABS Industries Limited (formerly ABS Plastics) was
the year, and commenced production in 1978, to
Butadiene Styrene (ABS). It has been a pioneer in
introducing ABS Resin
as an Engineering Thermoplastic in India. The Company
is a leading
manufacturer of ABS Resin and sheets in India.
- The Company has a technical collaboration with the
world's largest manufacturer
of ABS Resins; Japan Synthetic Rubber Company
- The Company has launched a new product SAN (Styrene
Acrylo Nitrile) which
is a plastic which gives a 95% transparent finish.
It is superior to glass (88%)
and acrylic (92%). The product has major
applications where transparency
is required and also has immense market potential. ABS
Industries is the only
manufacturer of this product in India.
1991 - The second phase of expansion of ABS Resins from 5,000 TPA to
was successfully commissioned during the year.
- The modernisation of ABS Plant has also been successfully
completed and the
Plant is now ready for operation.
- Unfortunately, due to prolonged lock-out at the factory
of M/s.Kelvinator and also
due to some technical snags, the Sheeting Plant would not
1992 - The Company has issued 3,00,000/- 20% non convertible
debenture of Rs.100/-
each to the financial institutions and mutual funds on
private placement basis
which is redeemable in the equal installment at the
expiry of 6th, 7th and 8th year
from the date of issue i.e. 8th June, with a 5%
- The Company name was changed from 'ABS PLASTICS
LIMITED' to 'ABS
INDUSTRIES LIMITED' with effect from 6th August.
1993 - The company issued 36,65,800 Right Equity shares of Rs.10/-
each and the issue was
- The company has received Rs.3.95 crores on account of
allotment money. On receipt
of allotment money in full, paid up capital and share
premium shall rise to Rs.1,00,49,000
and Rs.5,49,87,000 respectively.
- San Project of the company was completed during the year
and the production was
commenced in March.
1995 - The SAN plant acheived nearly 100 % capacity utilisation and
efforts are being made
to increase capacity substantially.
- The promoters who were alloted preferential warrants
have subcribed to 10,00,000
No. of equity shares and have been alloted shares
- LIC has nominated Shri U C Saksena as a Nominee Director
in place of Shri H F Choksey.
1996 - 20% Non convertible debentures of Rs.100/- each have been
issued to the Financial
Institutions and Mutual funds on private placement
- The Company has installed Wind Turbine Generators (WTG)
at Lamba and Dhank
- The FIPB has cleared Bayer Industries Ltd's (BIL)
proposal to acquire a 31 per cent
stake in Baroda based ABS Industries Ltd. BIL is a 100
per cent subsidiary of the
German multinational Bayer AG.
- ABS Industries will offer 4.2 lakh equity shares on a
preferential basis to its promoters
as part of the `share subscription agreement' with Bayer
1997 - During the year M/s. Bayer Industries Ltd. (BID), a 100%
subsidiary of Bayer AG Germany,
acquired 50.97% Equity Shares, by way of preferential
issue of shares and acquisition of
existing shares through the open offer.
- The Directors regret to take note of the sad demise of
Mr. J. J. Mehta, Our
Ex-Chairman/Director whose long association almost from
inception of the Company has
left an indelible impression.
- Mr. M. D. Rajpal and Mr. Vijay Ranchan, Directors have
resigned from the Board effective
- Mr Alan McGilvray, managing director, Bayer India Ltd,
has taken over as the chairman
of Bayer ABS Ltd,
- Bayer Industries Ltd, the 100 per cent Indian subsidiary
of German giant Bayer AG, is
hiking its open offer price for the acquisition of
shares in the Vadodara-based ABS
Industries Ltd from Rs. 70 to Rs. 80 per share.
- The company is increasing the capacity for ABS by 5000
1998 - Mr. R. S. Agrawal has been reappointed as Managing Director
with effect from
- During the year ICICI has replaced it's Nominee Director
and has nominated Mr.
S. R. Chougule, as a Director, in place of Mr. S. A.
- The company's installed capacity has increased to 16,000
metric tonnes from 12,000
1999 - The increased capacity of Polybutadiene Rubber (PBR) increased
of the company's products.
- During the year, Dr. A F Hennecken was appointed as
alternate director to Mr. Ludolf
Von Koenig. Mr. K B Mistry alternate to Mr. H J Krell
2000 - The Company has obtained ISO 9001 Certificate for quality
-Mr Stephan Gerlich appointed as the Additional Director and Chairman
of the company.
-Increases the capacity of SAN resins to around 40,000 tpa
-Mr. D C Shroff, is appointed as an alternate director to Dr. Axel
Heitmann ii) Mr R S Agarwal, reappointed as MD.
- Bayer ABS Ltd delists equity shares of the company from Ahmedabad
Stock Exchange from August 25, 2004 & Vadodara Stock Exchange from
August 16, 2004
- InterUnion Banco Comercial, Venezuela, select i-flex's FLEXCUBE
product suite as the end-to-end technology solution to provide core
processing and internet banking for their de novo private-Web Bank
which service the specialized personal banking and wealth management
- Delists equity shares from the Stock Exchange, Ahmedabad w.e.f.
August 25, 2004 and from the Vadodara Stock Exchange Ltd. w.e.f.
August 16, 2004.
-Company has changed its name from Bayer ABS Ltd. to Lanxess ABS Ltd.
- Company name has been changed from Lanxess ABS Ltd to INEOS ABS
- BASF and INEOS sign joint venture contract for Styrolution.
- The Company's name has been changed from INEOS ABS (India) Limited
to Styrolution ABS (India ) Limited.