Sona Koyo Steering Systems

ACTIVITIES: Manufacture of steering gears and column  assemblies.
       
 GENERAL   : The Company is promoted by Surinder Kapur and Maruthi
 Udyog Ltd. The Company entered into technical agreement with Koyo
 Seiko Co Ltd.,(Koyo) Japan, to provide knowhow , technical
 information, specification of machine tools, auxiliary equipment, and
 continued technical support. It is valid for a period of 7 years from
 23 August 1985 or for a period of 5 years from commencement of
 commercial production whichever earlier.  Hypersonic Investment (P)
 Ltd., and Turbo Investment (P) Ltd., are the subsidiaries of the
 company. The financial institutions have the right to convert 20% of
 their Rupee term loans
 into equity shares.
         
 1987-88   ; Commercial production commenced from 1st October 1987.
         
 1989-90   : Govt. approval was received for increasing the capacity
 of steering gear assembly from 1.25 lakh nos to 3.50 lakh nos. The
 Company also undertaken expansion of steering gear project at an
 estimated cost of 4 crores. The Company entered technical
 collaboration agreement with M/S Koyo Seiko Co Ltd for knowhow of
 collapsible column assemblies.
         
 1995
 
 -Ffinalised joint ventures worth Rs. 100 crore with four multi
 national companies (MNC)
 
 -Ferodo  UK based auto component giant  has tied up with Sona
 Steering to manufacture asbestos free brake liners for automobiles
 and railways  in India.
 
 1996
 
 -The company has signed a memorandum of understanding with Oberland
 Mangold of Germany to make metallic convertors.
 
 1997
 
 -Sona Steering System Ltd and Mitsubishi Materials Corporation
 entered into an agreement to produce level gears and synchroniser
 rings.
 
 -Sona group  has been awarded the Global Growth Company award by
 World Link  the magazine of the World Economic Forum.
 
 1998
 
 -Got orders from Maruti Udyog Ltd (MUL) and Hindustan Motors (HM) for
 supplying 100 per cent requirement of power steerings for their luxury
 cars.
 
 1999
 
 -Initiated a debt restructuring exercise aimed at reducing the
 company's debt-equity ratio from 0.83:1 at present to 0.45:1 within
 the next three years
 
 -The company has allotted 10 00 000 - 10 per cent cumulative
 redeemable preference shares of Rs.100 each to Koya Seiko Co. Ltd.
 (Koyo)  on preferential basis to cash at Par  redeemable upon the
 expiry of 7 years from the date of its allottment.
 
 2003
 
 -Obtained an order worth Rs 40 crore from its joint venture partner
 Koyo Seiko of Japan
 
 -Board Approves the delisting of the equity shares of the company
 from Delhi, Bangalore, Ahmedabad, Ludhiana and Calcutta Stock
 Exchanges.
 
 -The Surinder Kapur-controlled, Rs 365-crore Sona Group, has bagged
 export orders totalling over Rs 275 crore from its five group
 companies, which include four joint ventures
 
 2004
 
 -Sona Koyo Steering Systems opens 100 per cent EoU (export-oriented
 unit) on October 29,2004