Company History - Balmer Lawrie Vanleer
YEAR EVENTS
1960 - The Company was incorporated on 12th February 1960 at Calcutta
as
a Private Limited Company and converted into a Public Limited
Company on 24th February 1975. The objects of the Company are
manufacture of closure parts, for industrial containers such
as
flanges, plugs and capsules which are applied to steel drums
for
transportation of petroleum products, chemicals, paints,
vegetable oil and other liquid products. The products
manufactured include gaskets, tag-rings and poly-press.
- The Company was a wholly owned subsidiary of American Flange
&
Manufacturing Co. Inc. USA. The name was changed to Trisure
India
on 22nd April.
- American Flange & Manufacturing Co. Inc., USA, developed
substantial technical know-how for the manufacture,
insertion,
application and the use of Tri-Sure closure parts and
provided
this information, under licence or other arrangements, to its
subsidiaries and affiliated companies throughout the world.
1973 - 2,53,335 shares held by American Flange & Mfg. Co. Inc. USA
and 1
share by its nominee Tri-Sure Products Inc. of New York.
1975 - Before the public issue of capital during April, the Company
was
a wholly owned subsidiary of American Flange & Manufacturing
Co.
Inc., USA. After the public issue of capital the
non-resident
holding in the Company was reduced from 100% to 49% whereupon
the
Company ceased to be a subsidiary of American Flange &
Manufacturing Co. Inc., USA (AFMC).
- 2,63,680 shares issued (prem. Rs 7.50 per share) of which
25,000
shares each to LIC & UTI and 41,231 shares to Indian
directors
and employees were reserved for firm allotment. 1,72,339
shares
offered to the public in April 1975. Subsequently, the
entire
premium amount refunded to shareholders.
1988 - With the issue of 1,82,900 shares to Balmer Lawrie & Co. Ltd.
dring the year the equity holding of AFMC was further reduced
to
29%.
1993 - The Company diversified into manufacture of state of the art
Valerex plastic drums through acquisition of the project set
up
by Balmer Lawrie & Co. Ltd. production commenced from 1st
December.
- Name of the company was changed from Tri-Sure India, Ltd., to
Balmer Lawrie-Van Leer Ltd., with effect from 28th December.
1994 - 32,57,268 rights shares issued in prop. 1:4.
1995 - Major effort was put into commissioning of import equipment
in
the Flange Pressing, milling and threading and stabilization
of
imported plug line.
- Production and sales were reported to be good. A number of
new
customers in the lube oil sector were added. In view of
this,
the Company proposed to double its capacity.
- 14,39,748 shares allotted on conversion of 14% PCDs.
1996 - Multinational Companies who have entered the country in Lube
oil
business got their 20 L containers from the Company. Capacity
of
the plant was increased by adding injection moulders and
welders.
- 40,07,016 No. of equity shares of Rs 10 each allotted due to
conversion of Part `B' of 14% PCD of face value of Rs 50.
2002- Balmer Lawrie Van Leer Ltd has informed that Mr P.K. Bishnoi
has been appointed in place of Mr S N Mathur as Director
on the Board of Balmer Lawrie Van Leer Ltd w.e.f. January
07, 2002.
-P K Bishnoi designated as Vice Chairman of Balmer Lawrie-Van Leer.
2003- Balmer Lawrie Van Leer Ltd has informed BSE that at the meeting
of the Board of Directors of the company held on Jan 27, 2003 Mr J M
Casparie resigned as Director & Chairman from the Board wef Jan 27,
2003 and the Board appointed Mr D S Van Griethuysen as Director &
Chairman wef Jan 27, 2003.
-The decided to delist fro the Madras stock exchange.
