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Ahura Welding Elec Mfg Ltd.

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Company History - Ahura Welding Elec Mfg
YEAR                       EVENTS
 1963 - Ahura Welding Electrode Manufacturers Limited. (AWEML) was
        incorporated on 31st December, as a Public Limited Company
 under
        the Companies Act, 1956.  The Company obtained a license from
 the
        Government for the manufacture of Manual Arc Welding
 Electrodes.
 
      - The Company was originally promoted by Mr Soil Hataria, Mr A K
 A
        Rahaman Salt, Mr K Sunder Raj, Mr G N Venkatapathy, Mrs Dinoo
 S.
        Hataria, Mr A R Balakrishnan and Mr J M Thambuswamy.  The
 Company
        ceased its operations in 1968 without getting into commercial
        production.  The electrodes of the company are marketed under
 the
        brand name SUN ARC.
 
 1979 - The Company started another factory in Ambattur Industrial
        Estate, Chennai for manufacturing welding electrodes during
 the
        year by obtaining a term loan of Rs 6.6 lakhs from TIIC Ltd.
 
      - The present capacity of the Welding Division is 55.42 Million
        Running Meters (MRM).
 
      - The company has a well established dealer and sub dealer
 network
        that has been in existence for more than two decades for
        marketing its Electrodes.
 
 1986 - The Company had made a Bonus Issue in the ratio of 1:1 by
 issuing
        120000 shares on 27th March.  The Company issued 15,00,000
 Bonus
        Shares in the ratio of 3:1 by capitalising Rs 150 lacs out of
 its
        free reserves on 20, December, 1994.
 
 1988 - The Company also made forays into Textile Industry (Kimura
        Textiles, a division of AWEML) for texturising and twisting
 of
        yarn with financial assistance from GSFC and GIIC.
 
 1973 - The Company had an Equity of Rs 12.00 lacs.  It issued Bonus
        shares in the ratio of 1:1 during the year 1986.  The share
        holders of the company were offered equity shares in the ratio
 of
        1:3 during the year 1992.
 
 1992 - A Rights Issue of 8000 Shares of Rs 100/- each at par, which
        closed on 12th February.  Of this 75,350 shares were
 subscribed
        and paid aggregating Rs 7,53,500/-.  These Shares were
 allotted
        on 15th February.
 
 1994 - A preferential offer of Rs.18.47 lacs was made to the
 promoters
        taking the Equity of the company to Rs.50 lacs.  A Bonus
 Issue
        has been made In the ratio of 3:1 out of Free Reserves in
        December, thereby raising the Equity of the Company to Rs 200
        lacs.  The shares of the Company are listed on the Coimbatore
 &
        Madras Stock Exchanges.
 
      - The Company proposes to expand and diversify its welding
 division
        of Coimbatore, by getting into the manufacture of Special
        Electrodes viz Low Hydrogen and Low Heat Input Electrodes.
 
      - The Textile Division of the Company proposes to expand its
        texturising capacity by adding 3 texturising machines with a
        capacity of 216 spindles each increasing its current capacity
 of
        192 Spindles to 840 spindels.
 
      - Surat based Textile Division was adversely affected due to
 the
        Recession in Textile Industry throughout 93-94; Imposition of
        Central excise duty on texturisers with effect from 1st
 March.
  
      - The company had entered into international market by
 exporting
        electrodes during the year and it is making determined efforts
 to
        increase the export turnover and thereby earn valuable
 foreign
        exchange.
 
      - The Company has proposed to buy and install one second hand
        imported texturising machine to increase the productivity of
 the
        textile division and make it a profitable division.
 
      - The company is also planning to increase the productivity of
 the
        welding division by installing an imported continuous drying
 oven
        and Semi Automatic packing machines to improve the
 productivity
        and quality.
 
 1995 - The Company proposes to construct 15549 sq. ft. comprising
        Factory Building, Research and Development Lab and
 Administrative
        Block at Coimbatore.
 
      - The Company also proposes to construct Factory Buildings, Raw
        Material & Finished Goods Store Rooms, Canteen aggregating
 17643
        Sq. ft at Surat.
 
      - The Company proposes to establish a full fledged welding
        electrode manufacturing line for special electrodes.
 
      - The Company has tensile Testing, Impact Testing, Hydrogen
 Level
        Testing Equipments and Carbon-Sulphur Determinator which
        given instantaneous computerised result.
 
      - The Company has established a Central Marketing Division based
 at
        Chennai consisting of a team of sales/marketing engineers
 posted
        at Various industrial towns and cities like Jamshedpur,
 Calcutta,
        Pune, Mumbai Chennai, Banaglore, Coimbatore, Ankleshwar etc.
 
      - Public Issue of 20,00,000 Equity Shares of Rs 10/- each for
 cash
        at a Premium of Rs 30/- per share aggregating Rs 800 Lakhs.
 
 1996 - The company has installed additional machineries as required
 in
        its welding division for manufacture of M. S. and special
 type
        electrodes.
 
      - The Company could not expand the production capacity of its
        Textile Division at Kim, Surat due to non-receipt of
 allotment
        money (including share premium) to the extent of Rs.362.40
 lacs.
 
 1998 - The Company's Research and Development wing has developed a
        special type of stainless steel electrode for critical
        application and the company hopes to market this electrode in
        considerable quantity.