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Voltas
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Company History - Voltas
YEAR                                                             
 EVENTS
 
 
 1954 - The Company was Incorporated on 6th September at Mumbai.  The
        Company was promoted in 1954 by M/s. Volkart Brothers and
 Tata
        Sons Pvt. Ltd., to take over the Engineering & Import
 Division
        of M/s. Volkart Brothers in India.
 
      - The Company's manufacturing activities were originally
 carried
        on at its factory at Chinchpokli, Mumbai and covered
        air-conditioning and refrigeration equipment mining,
 electrical
        and agricultural equipment.
 
      - The Company set up in Thane, Mumbai an up-to-date factory to
        manufacture wide range of air-conditioning and refrigeration
 and
        a range of mining equipments for which the Company had
 entered
        into a collaboration with leading manufacturers abroad.
 
      - The Company's distribution organisation is divided into two
 main
        groups - `Engineering' and `Marketing'.
 
      - The marketing group consists of two main divisions, one
 dealing
        in drugs, pharmaceuticals and consumer products and the other
        in chemicals and vitamins.  The Company deals in foreign as
 well
        as indigenous products, besides marketing its own products.
 
      - The Company manufactures, sale and distribution of a variety
 of
        products in the engineering, chemical and pharmaceutical
        industries such as agricultural, earthmoving,
 air-conditioning
        and refrigeration, textile machinery, machine tools,
 electrical
        and mechanical equipments as well as chemicals,
 pharmaceuticals
        and consumer products.
 
 1956 - Shares sub-divided.  1,05,000 Rights shares then issued at
 par
        in prop. 7:10.
 
 1963 - The Company promoted Scottish Indian Machine Tools Ltd., in
        Collaboration with Scottish Machine Tool Corporation of
 Glasgow
        for the manufacture of machine tools.
 
 1964 - The Company concluded a collaboration agreement with Eaton
 Yale
        and Towns, U.S.A., for the manufacture of Yale fork-lift
 trucks.
        The Company has extensive domestic and international ties.
 
      - The Company joined the Mine Safety Appliances Co., U.S.A.,
 and
        Associated Battery Makers (Eastern) Ltd., Calcutta in the 
        promotion of Mine Safety Appliances Ltd., Calcutta, a joint
        venture for the manufacture of miners' electric safety cap
 lamps
        and other types of safety and protective equipment,
 appliances,
        detection and measuring devices.
 
 1965 - 1,02,000 Rights Equity shares issued at a premium of Rs 25
 per
        share in the proportion 2:5.
 
 1966 - A new division, viz., the Agro-Industrial Products Division
 was
        added.  The main operation of the division consisted of the
 sale
        and servicing of the tractors and implements made by the
        International Tractor Co. of India.  This division handles
        hydraulic equipment ranging from larger pumping sets to small
        irrigation pumps, sprinkler irrigation systems and oil
 engines
        and also handles veterinary products, pesticides and
 fertilisers.
 
      - In Aug. 71,400 Bonus shares issued in prop. 1:5 and 4,500
 shares
        issued (prem. Rs 75 per share) to Common wealth Development
        Finance Co. Ltd., U.K.
 
 1970 - In April, 85,580 Bonus Equity shares issued in the proportion
        1:5.
 
 1972 - 1,03,896 Rights Equity shares issued for cash at a premium of
        Rs 50 per share in June.
 
 1973 - Arrears as on 31.8.1974 - Rs 4935, Arrears as on 31.8.1976 -
 Rs
        200 (Approximately).
 
 1979 - With effect from 1st July, Tata-Merlin & Gerin Ltd. (TMG),
 and
        the National Electrical Industries Ltd. (NEI), were
 amalgamated
        with the Company.  In terms of the Scheme of Amalgamation,
        members of The National Electrical Industries Ltd., were
 allotted
        for every 30 preference shares of Rs 100 each held, 20 `B'
 class
        equity shares of Rs 10 each and 15-11% redeemable mortgage
        debentures of Rs 100 each of Voltas Ltd., and for every 240
        No. of equity shares of Rs 10 each of NEI held, 20 `B' class
        equity shares of Rs 10 each and 9-11% redeemable mortgage
        debentures of Rs 100 each of Voltas Ltd.
 
      - Members of TMG were allotted for every 60 No. of equity shares
 of
        Rs 100 each held in TMG, 2 equity shares of Rs 100 each and
        9-11% redeemable mortgage debentures of Rs. 100 each of
 Voltas
        Ltd.
 
      - 4,420 No. of equity shares of Rs 100 each and 19,892 - 11%
        (1987-91) were be allotted to the shareholders of Tata-Merlin
 &
        Gerin Ltd., and 14,117 `B' Equity shares of Rs 10 each and
        9,605 - 11% (1987-91) redeemable mortgage debentures of Rs
 100
        each were allotted to the shareholders of The National
 Electrical
        Industries Ltd.  The share were allotted in 1980-81.
 
 1981 - The Company offered 5,00,000 - 13.5% secured convertible bonds
 of
        Rs 250 each at par.  Out of this, 2,00,000 bonds were offered
 as
        rights to the existing shareholders and the balance 3,00,000
        bonds issued to the public.  Each bond carries an option to
        receive one equity share of Rs 100 each at par within three
        months after the expiry of three years from the date of
 allotment
        of bonds.  The face value of each bond will be reduced by Rs
 100
        and the balance Rs 150 per bond will be repaid to the
 bondholders
        at the end of the 10th year from the date of allotment of the
        bonds.
 
 1982 - The Company proposed to set up an electrical business unit at
        Pune.
 
      - The Company entered into an agreement with May & Christe of
 West
        Germany for the manufacture of dry type transformers of
        cast-resin design.
 
      - Voltas International Ltd., Perfect Moulds Ltd. Voltas
 Switchgear
        Ltd., Vizat Investment Co. Ltd., are subsidiaries of the
 Company.
        Nchovol F&E and Premium Granites Ltd. are subsidiaries of
        Voltas International Ltd.
 
      - The Company has distributorship rights in the following
 products:
        Drugs and pharmaceuticals by Merck Sharp & Dohme of India
 Ltd.,
        Mumbai, drugs and pharmaceuticals by Roche Products Ltd.,
 Mumbai,
        air compressors by Kirloskar Pneumatic Co. Ltd., automatic
 looms
        by National Machinery Manufacturers Ltd., and shovels by Tata
        Engineering & Locomotive Co. Ltd.
 
      - The Air Pollution and Water Pollution project groups were
        amalgamated with the Electrical project group.
 
 1983 - 1,91,708 No. of Equity shares issued on part conversion of
 13.5%
        convertible bonds (91 shares issued during 1984/85).
 
 1985 - 3,00,000 No. of equity shares issued on part conversion of
 13.5%
        convertible bonds.
 
 1987 - The Company accepted the condition laid down by LIC which
 holds
        Rs 50.09 lakhs of the debentures, that in the event of the
        Company making a public or rights issue of share capital
 during
        the period upto 31st October, 1987, the LIC should be given
 on
        one time basis the right to be allotted equity shares of a
        nominal value equivalent to 10% of its holdings of the
 debentures
        on terms and conditions on which such equity issue is made.
 
 1988 - The material handling business group successfully introduced
        up-to-date warehousing equipment to further enlarge its
 product
        range.  The operations of machine tool division witnessed
 another
        successful year with the manufacturing capacity of all
 domestic
        principals being fully utilised.
 
      - Air-conditioning and refigeration business group received
        Government's approval for the technical collaboration
 agreement
        convering large-sized efficient compressors.
 
      - The machine tool division reached an agreement with Fanuc of
        Japan for technical collaboration to produce CNC drilling
        centres.
 
 1989 - With effect from 1st March, Volrho Ltd. was amalgamated with
        the Company as per the order of BIFR.  The Company issued
        4,44,445 No. of equity shares of Rs 10 each to the erstwhile
        shareholders of Volrho Ltd..
 
 1990 - Approval was also received for extending Hitachi collaboration
 to
        the manufacture of absorption refrigeration machines.  The
        materials handling business group proposed to extend its
 scope
        of activities to turn-key materials handling systems for mass
        production in engineering industries.
 
      - A new model window air-conditioner was launched by the
 appliances
        business group and it was proposed to add other consumer
 durables
        to the existing product range.
 
      - The pharmaceutical and consumer products division suffered on
        account of diminished margins in the pharmaceutical line and
        inadequate range in the consumer products business.  The
        distribution of Hostess brand of PEPSI snack foods commenced
        during the latter part of the year.  The transformer
 operations
        were adversely affected by industrial relations problems at
 Pune.
        The Engineering projects division suffered a setback.
 
      - The machine tools division introduced Fanuc CNC drilling
 centres.
 
 1991 - The performance of the industrial machinery division was
        adversely affected due to a lock-out at the Company's
 principal,
        Westerworks.
 
      - The appliances business division launched the ductable split
        air-conditioner, specifically needed for shops, showrooms and
        general office areas.  The Agro-Industrial Product division
        proposed to take up shortly the manufacture of drip
 irrigation
        equipment.
 
      - The Agro-Industrial Product Division successfully tested to
        international standards, the indigenously built 36 KV SF6
 breaker
        at CESI Test Laboratory, Milan, Italy.
 
      - An agreement was signed for updating technology and for the
        manufacture of new models of P&H hydraulic cranes.  The
 machine
        tools division signed a four-year extension of its sole
 selling
        agency agreement with Premier Automobiles Ltd.  The
 performance
        of the chemicals division was adversely affected by import
        restrictions and high costs.  The pharmaceuticals and
 consumer
        products division suffered a setback.
 
 1992 - The Company restructured its operations into product group I
        comprising refrigerators, pharmaceuticals and consumer
 products
        and beverages while product group I(A) include textile
 machinery.
        Product group II consisted of machine tools, materials
 handling
        facility, industrial machinery, air-conditioning pumps and
        projects.  Group III comprised of chemicals plant, chemicals
        division and agro-industrial products.
 
      - Air-conditioning and refrigeration business and
 agro-industrial
        products and pumps division suffered a setback due to
 prevailing
        recession in the market and non-availability of Government
 funds
        as well as disturbances from December.
 
      - The Agro industrial products and pumps division was
 bifurcated
        into two viz., pumps division and the farm and irrigation
        equipment operations division.
 
      - The Company entered into technical agreements with Sulzer
 Pumps,
        Switzerland for the former division and with Wade
 Manufacturing
        of USA for the latter division.
 
      - The Engineering projects division was combined with the 
        agro-industrial products division, to constitute a new
 division
        viz., pumps and projects division.
 
      - The Chemicals plant division introduced a new product
        Monocrotophos.  The Electrical business group's operations
        suffered a setback on account of suspension of activities by 
        virtue of lock out at the switchgear plant.  Hence it is
 proposed
        to operate the said division through two separate wholly
 owned
        subsidiary companies Voltas Switchgear Ltd., and Voltas
        Transformers Ltd.
 
      - With effect from 1st January, Wandleside National Conductors
 Ltd. 
        (WNC Ltd.), was amalgamated with the Company as per the order
 of
        BIFR.  The Company allotted without payment in cost 13,314 No.
 of
        equity shares of Rs 10 each to the erstwhile shareholders of
 WNC
        Ltd., in the ratio of one equity share of Rs 10 of the
 Company
        for every three equity shares of Rs 100 each in WNC.
 
      - Effective from 1st January, Wandleside National Conductors
 Ltd.
        (WNC) was amalgamated with the Company.  The erstwhile
        shareholders were allotted 13,314 No. of equity shares of
 Rs.10
        each.  This was as per scheme formulated by ICICI, the
 operating
        agency appointed by BIFR, as WNC became sick under the
 provisions
        of the Sick Industrial Companies (Sp. Provisions) Act, 1985.
 
      - Necessary approvals were received for amalgamation of
 Hyderabad
        Allwyn Ltd. (HAL) with Voltas Ltd.  As per the Scheme the
        erstwhile equity holders of HAL were to be allotted 12,56,828
 No.
        of equity shares of Rs 10 each and 1,25,682 redeemable
 preference
        shares of Rs 100 each.
 
      - During March/April the Company offered 99,20,000-14% secured
        redeemable partly convertible debentures of Rs 100 each to
 the
        equity shareholders on rights basis in the proportion of 1
        debenture: 2 equity shares held (all were taken up).
 
      - 4,96,000 debentures offered to employees of the Company on
        equitable basis (all were taken up).  A total of 15,62,400
        additional debentures were allotted to retain
 oversubscription
        both for shareholders as well as employees.
 
      - Along with the rights issue, the Company offered
 10,00,000-14%
        secured redeemable partly convertible debentures of Rs 100
 each
        to non-resident Indians on private placement basis.
 
      - Part A of Rs 60 of each debenture was converted into 1 equity
        share of Rs 10 at a premium of Rs 50 per share on 1st
 December.
        Part B of Rs 40 of each debenture was to be redeemed at par
 on
        the expiry of 7th year from the date of allotment of
 debentures.
 
 1993 - The cooling appliances business launched four new products
 viz.,
        water coolers filled with purifiers ductable and slim-line 3
        tonne air-conditioners, ceiling mounted split in 1.5 and 3
 tonne
        capacities and 2 tonne room split units.
 
      - The pharmaceutical and consumer products division was closed
        during the year and had also withdrawn from the beverages 
        business.
 
      - A new division, the pumps and projects business division set
 up
        to manufacture and market circulating pumps in collaboration
 with
        Sulzer, Switzerland.
 
      - The engineering projects division was merged with the pumps
        activity to provide the necessary project expertise.
 
      - The WNC division commissioned the capillary tubes plant and
 was
        stabilising the working of its new thermostat plant.
 
      - HAL, a sick industrial company, was merged with Voltas and
 the
        amalgamation was approved by the Board for Industrial &
 Financial
        Reconstruction (BIFR) in 1994.
 
 1994 - The Home Appliances division introduced 250 L refrigerator in
 the
        market and a 100L refrigerator was expected to be launched in
 the
        first quarter of 1995-96.
 
 1995 - The cooling appliances business division is to introduce new
 room
        air-conditioners to Toshiba design in October.
 
      - Voltas gets Good corporate citizen award
 
      - The Company has introduced `Soft Look' models of refrigerator
 in
        165 L. & 200 L segments.  Company is also launching a premium
        Frost Free Refrigerator in collaboration with Hitachi.
 
 1996 - Pumps and projected business division successfully developed,
        manufactured and commissioned the largest sizes of horizontal
 and
        vertical pumps in its range.
 
 1997 - After 3 years of growth, the chemicals division faced
        difficulties during the year as vitamines and veterinary
 division
        was affected by liberalised imports under the advance licence
        scheme.
 
      - A whole range of new products was launched both in the room
 air
        conditioning and split segments.  The heavy equipment and
        packaged system division launched ozone-friendly centrifugals
        and superior quality energy efficient steam, fired vapour
        absoption machines with Hitachis `Paraflow' technology.
 
      - The company also entered into a lease rental agreement with
 SIPL
        for lease of factory premises of WNC for a period of 18
 months
        for a total consideration of Rs 10.250 million.
 
      - Voltas, India's leading air-conditioning company has been
 chosen
        to supply, erect and commission high-tech climate
        air-conditioning system for India's first information
 technology
        park, a comprehensive facility for technology-oriented
 companies
        in electronics, information technology, telecommunication and
        related industries, now under construction at White Field,
        Bangalore.
 
      - Voltas has launched two more frost-free refrigerators of 425
 lts
        and 360 lts capacity.
 
      - Voltas has been manufacturing thermostat for refrigerators
 and
        airconditioners at thermostat unit under a technical
        collaboration agreement with Robert Shaw, a subsidiary of
 Seibe.
 
      - Voltas Ltd (chemicals division) manufacturing pesticides at
        Patencheru industrial zone, in Medak district of Andhra
 Pradesh,
        proposes to commission the final phase of its pollution
 control 
        measure in accordance with the Andhra Pradesh Pollution
 Control
        Board (APPCB) guidelines.
 
      - Voltas Ltd has entered into an exclusive distribution
 agreement
        with the Hyundai Heavy Industries Ltd (HII) to market
 hydraulic
        excavators, wheel loaders, skid steer loaders and allied
        equipment and attachments in India.
 
      - Well-diversified Voltas Limited is undertaking a capacity
        enhancement programme to increase the production capacity of
        modular steel furniture from the present 3,000 tonnes to
 10,000
        tonnes as its unit in Hyderabad.
 
      - UNIT RIG, a division of Terex Corporation, USA, has entered
 into
        a distribution agreement with Voltas Ltd for marketing of
 their
        complete line of surface mining equipment exclusively for the
        Indian territory.
 
      - Voltas Ltd has finalised yet another contract as original
        equipment manufacturer (OEM) with one of the white goods
 majors,
        LG Electronics, to manufacture and supply direct cool
        refrigerators.
 
 1998 - Voltas recently commissioned Dadra plant, which has a
 capacity
        to produce about 40,000 units per annum if it worked one
 shift,
        can go up to one lakh units per annum if the strategic
 alliances
        worked out.
 
      - Voltas, India's largest airconditioner manufacturing company,
 has
        launched a new range of airconditioners named Voltas Vectra,
        Voltas Verdant, Voltas Vertis and Voltas Vosionarie.
 
      - Voltas Ltd is tying up with 20th Century Finance to launch
        consumer finance schemes in a bid to aggressively push sales
 of
        its airconditioners.
 
      - The diversified Tata group company Voltas, after months of
        negotiations, has finally reached an agreement with sister
        company Rallis India to sell its loss-making chemicals
 division.
 
      - Voltas Ltd has entered into a distribution agreement with BT-
 
        Industries Group of Sweden, to provide marketing and product
        support, for BT's complete range of warehouse trucks for
 internal
        materials handling.
 
      - The Electrolux Group, the world's largest household
 appliances
        manufacturer, has reached a final agreement with the Voltas
 Ltd
        to float a joint venture company for manufacturing
 refrigerators
        and washing machines with equity holdings at 74:26 per cent
        respectively.
 
      - Voltas Ltd has signed a contract with Coal India Ltd for the
        supply of hundred and sixty 120-tonnes capacity unit rig dump
        trucks.  The contract was also entered into by Terex
 Corporation,
        US, Unit Rig, US and the World Bank project division of CIL.
 
      - Rating agency ICRA has assigned `A1+' (highest safety) rating
 to
        Rs 25 crore commercial paper of Voltas Ltd.
 
      - Voltas is the only stock in the air conditioner sector which
 is
        in a major uptrend.
 
      - The company is hiking its installed capacity (of air
        conditioners) at its Dadra Nagar Haveli plant to cater to
 rising
        demand.  It is also slimming down -- a voluntary retirement
        scheme is in the offing to rid itself of excess labour.
 
      - The Voltas brand and its operations in Refrigerators and
 Washing
        Machines were transferred to EVL from 1st October.
 
 1999 - The industrial court of Mumbai has granted a stay on the
 Voltas
        Ltd's voluntary retirement scheme (VRS) in Mumbai following
        opposition from the Voltas Employees Union.
 
      - Voltas - AirInternational Ltd. is a joint venture between
 Voltas
        Ltd. and Air International Grmp, Australia.
 
      - The company has doubled its installed capacity to 1.5 lakh
 room
        air-conditioning units annually.
 
      - Electrolux and Voltas had inked the memorandum of
 understanding
        (MoU) in June, 1998 and as per the sale pact under the MoU,
 four
        manufacturing units of Voltas Ltd were to be transferred to
 the
        joint venture Electrolux Voltas Ltd.
 
      - Allwyn brand and its operations were transferred to EVL from
 31st
        March.
 
      - Voltas and LG Electronics India Ltd (LGEIL) have, meanwhile,
        entered into an agreement, whereby the latter would be
 sourcing
        approximately 6 lakh refrigerators units for a period of
 three
        years starting January 1, 2000.
 
      - The Dadra facility has an installed capacity to manufacture up
 to
        1.4-1.5 lakh airconditioners in two shifts, and Voltas is
        operating at 60,000-65,000 units per annum.
 
      - Voltas, the diversified Tata group company, is seeking to
 enter
        into capacity sharing arrangements with multinational partners
   
        which have recently made their entry into India.
 
 2000 - The Company has received a special award for completing the
              electro mechanical pumping project of Ahmedabad
 Municipal
              Corporation in 120 days.
 
            - The Company has introduced a voluntary retirement scheme
 called
              Early Separation Scheme 2000 (ESS) for its employees.
 
            - The Unitary Products Group of Voltas, which includes
 the
              commercial refrigeration and contract manufacturing
 businesses,
              has signed an agreement with LG Electronics, to
 manufacure and
              supply over 12 lakh refrigerators.
 
           - The Company has sold its wholly-owned subsidiary Voltas
 Foods & 
              Beverages to a Mumbai-based company, and has roped in a
 multinational 
              as strategic partner for Perfect Moulds.
 
           - The Company has informed that, Voltas Ltd. and IGE (I)
 LTD. have divested 
              their entire shareholding in Fanuc India Ltd., a joint
 venture company between 
              Fanuc Ltd., Japan, GE Fanuc Automation, N.A., USA,
 Voltas Ltd. and IGE (I) Ltd.
 
            - L. G. Electronics India and Voltas entered into a tie-up
 under which the former will
              source 12,00,000 direct-cool refrigerators from the
 latter for the next three years
              beginning January next.
 
 2001 - Tata group company Voltas Ltd. is relaunching Voltas
 airconditioners under the
               `Verdant' brand,  a premium model targeted at the
 retail segment.
 
           - Tata group company Voltas Ltd the air-conditioner (AC)
 and cooling appliances major has posted a strong growth in the split
 air-conditioner segment.
 
          -  Ahmedabad-based Lok Prakashan, publisher of Gujarat
 Samachar, has increased its stake in Tata Group company Voltas to 14
 per cent from 13.3 per cent over the last fortnight and may soon
 launch an open offer for additional 20 per cent stake.
 
 2002
 
 - N D Khurody appointed as Additional Director of Voltas.
 
 -Voltas enters into a Joint Venture agreement with Sermo Montaigu,
 France for perfect moulds.
 
 -Voltas Ltd has informed BSE that Perfect Moulds Ltd has ceased to be
 a subsidiary of the Company consequent upon allotment of 30,00,000
 equity shares of Rs 10 each by PML to Sermo Montaigu, France (Sermo),
 the joint venture partner, on July 06, 2002.The paid up capital of PML
 of Rs 130 million is now held in equal proportion of 50:50 ie
 65,00,000 equity shares of Rs 10 each aggregating Rs 65 million each
 by Voltas and Sermo.
 
 2003
 
  - Voltas Ltd has informed BSE that Mr Bir D Singh Executive Director
 has retired from the services of the company on December 27, 2002.
 Accordingly, he ceases to be a Director and Wholetime Director of the
 company.
 
 -State Govt rejects tax sop to Voltas' new mfg unit in MP
 
 -Voltas Ltd has informed that the Ahmedabad Stock Exchange (ASE) has
 informed that the securities of the company would be delisted from
 the ASE wef January 15, 2004.
 
 2004
 
 -Voltas Ltd. has informed that in response to their application for
 voluntary delisting, the Delhi Stock Exchange Association Limited
 (DSE) has informed the company vide its letter dated December 26,
 2003 that the securities of the Company have been delisted from DSE
 with effect from December 29, 2003.
 
 -Voltas Ltd. has informed that in response to the Company's
 application for voluntary delisting, Pune Stock Exchange Limited
 (PSE), has informed the company that that the shares of the Company
 delisted from PSE with effect from January 16, 2004
 
 -Enters into a distribution tie-up with the 62 million euro Italian
 airconditioning major Uniflair, which specialises in the design,
 production and supply of precision air conditioning and cooling
 solutions for telecom and internet applications
 
 -Voltas has launched a range of small capacity refrigerators targeted
 at semi-urban and rural markets in India.
 
 -Ties up with RBS Home Appliances Ltd. for the use of 640 service
 centres that Voltas has across the country for after sales services
 
 -- Simtools Ltd has now become a wholly owned subsidiary of the
 Company on 27, August 2005.
 
 - Chinese consumer durable giant Haier enters into a contract
 manufacturing agreement Voltas Ltd for air-conditioners and
 refrigerators.
 
 -Voltas introduces new range of water dispensers
 
 
 2005
 
 -Voltas introduces new series of ACs, may set up plant in
 Uttaranchal
 
 -Voltas secures order for world's Tallest building
 
 2006
 
 -Voltas joins hand with Dutch company
 
 -'Maximum foreign exchange earned and repatriated to India from
 overseas construction and engineering projects'
 
 -Company has splits its Face value of Shares from Rs 10 to Re 1
 
 2007
 
 -Voltas Ltd has informed that Universal Comfort Products Ltd (UCPL)
 is a 50:50 joint venture Company between Voltas and Fedders
 International Air-conditioning Pvt Ltd (FIACPL), a subsidiary of
 Fedders Corporation, USA.
 
 2008
 
 -Voltas Ltd has appointed Mr. Jimmy Bilimoria and Mr. S N Menon,
 Independent Directors have as Additional Directors of the Company
 with effect from September 22, 2008.
 
 -Voltas launches elegant, new range of Room Air Conditioners in 2008
 
 -Voltas acquires stake in Fedders venture
 
 2009
 
 -Voltas' overseas MEP business achieved professional recognition at
 the highest levels, at the MEP Middle East Awards 2008. 
 
 -'MEP Project Manager of the Year' rewards outstanding individual
 talent and commitment, as seen in actual project outcomes achieved
 through extraordinary skills and efforts.
 -Voltas ties up with GMRVF for community development initiative 
 
 2010
 
 -Memorandum of understanding between Voltas and the Mustafa Sultan
 Group to form joint venture company in the Sultanate of Oman 
 
 -Voltas - Joint Venture Agreement between Voltas Ltd and Olayan
 Financing Company of Saudi Arabia to form a Joint Venture Company
 
 2011
 
 -Voltas Limited and KION Group GmbH have agreed to establish a joint
 venture in India 
 
 -Voltas enters market with 70 air conditioners this season.
 
 2012
 
 -Voltas Ltd has recommended Dividend of Rs. 1.60 per share
 
 
 
 
Source : Dion Global Solutions Limited
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