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Bright Brothers > Company History > Plastics > Company History of Bright Brothers - BSE: 526731, NSE: BRIGHTBROS
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Bright Brothers

BSE: 526731|NSE: BRIGHTBROS|ISIN: INE630D01010|SECTOR: Plastics
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Company History - Bright Brothers
YEAR                       EVENTS
 1946 - The Company was incorporated as a Private Limited Company on
 11th
        July.  It was promoted by Mr. T.W. Bhojwani.  The Company was
        converted into full fledged Public Limited Company on 27th
        June, 1994.  The Company was manufacturing Umbrella, Ladies
        Cigarette Cases, Table lamps, Wash Basins fabricated out of
        `Perspex' (acrylic) Sheets.
 
      - The Company acquired several rights for products/processes
 from
        abroad including the `Engle process', `Kaberit process' and a
        proprietary range of plastic spheres known as the Allplas
        systems.
 
      - In the seventies, the Company diversified into manufacture of
        hi-teck precision industrial products for supply to OEM
 markets
        such as Phillips, Bush India, Voltas etc.
 
      - In the eighties certain OEMs required manufacturing
 facilities
        to be located next to their own factories for implementing
 just
        in time techniques and this led to promoters of Brite
 Automotive 
        and Plastics Ltd. at Pithampur in Madhya Pradesh to cater
        primarily to the requirements of Kinetic Honda Motors
 Limited.
 
 1948 - The company installed its first injection moulding machine
 and
        started manufacturing household items like Combs, Bangles,
 Mugs
        etc.  which were sold under the trade name BRITE.  This Trade
        name is owned by the company and is registered in the name of
 the
        Company since 1946.
 
 1989 - Its manufacturing operation were set up at Tarapur,
 Maharashtra
        with an installed capacity of 850 TPA by installing 3
 injection
        moulding machines.  Presently the company has an installed
        capacity of 3,000 tpa and facilities at Bhandup and Tarapur.
 
 1994 - The Company undertook to set up a project for setting up
        facilities for manufacture of injection moulded components.
 
      - The Company also undertook a diversification project for
        manufacture of office seating system at Tarapur.
 
      - Another facility was to be set up at Gurgaon, Haryana for
        manufacture of injection moulded plastic components with an
        installed capacity of 3000 tpa. to cater to the requirements
 of
        Maruti Udyog Ltd., Onida, Super India Ltd. etc.  As per the
        agreement entered into with Maruti for 5 year, the company was
 to
        supply bumpers, instrument panels, garnisher and radiator
 grills
        etc.
 
 1996 - 98,000 No. of equity shares of Rs 100 each allotted (of these
 400
        shares issued for reason other than cash; 12,100 shares
 issued
        for cash; 5000 bonus shares in prop. 2:5; 7,000 rights equity
        shares in prop. 4:10; 24,500 shares as bonus in prop. 1:1;
 49,000
        bonus shares in prop. 1:1).  In July 1994 90,000 No. of
 equity
        shares of Rs 100 each subdivided into 9,80,000 No. of equity
        shares of Rs 10 each.  During July 1994, 6,60,000 shares
 issued
        to promoters on preferential basis; 1,64,000 shares and
 6,56,000
        shares issued as bonus shares).  During Dec. 1994, the
 company
        issued 12,90,000 No. of equity shares of Rs 10 each for cash
 at a
        prem. of Rs 55 per share through a prospectus of which
 2,25,000
        shares reserved and allotted to promoters, directors etc.
 
      - Another 15,000 shares reserved and allotted to UTI.  Of the
        balance 50,000 shares issued to employees on preferential
 basis
        (42,700 share taken up).  Balance 10,00,000 shares issued to
 the
        public along 7,300 shares not taken up by employees 100
 shares
        were allotted as rounding off.
 
 2001-    Injection moulding plastic company Bright Brothers Ltd has
 acquired the plastic component                              
 manufacturing facility of Whirlpool at Faridabad, Haryana
 
 
 2005
 
 - The Board of Directors of the Company has allotted 5,00,000 Equity
 Shares of Rs 10/- each for Rs 40/- per share to Promoters & NRI on
 Preferential basis.
 
 
 2008
 
 - The Board of Directors of the Company has declared an interim
 dividend of Rs 10.00 per share of Rs 10/- each for the financial
 year.
 
 
 2009
 
 - The Company has executed a Business Transfer Agreement with M/s.
 Vijetha Polytek Pvt. Ltd, for purchase of its unit situated at
 Bhimtal on a going concern basis for a lump sum consideration of Rs
 703 lakhs.
 
 2010
 - Bright Brothers Ltd has recommended a dividend of 20% (Twenty
 percent) on Ordinary Shares of Rs. 10/ each fully paid up of the
 Company.
 
 2011
 - Bright Brothers Ltd has recommended a dividend of Re. 2/- per
 Equity shares of Rs. 10/-.
 
 2012
 - Bright Brothers Ltd has recommended a dividend of Rs. 2/- per
 Equity Share of Rs. 10/-.
 
 2013
 - Bright Brothers Ltd has recommended a dividend @ 20% i.e. Rs. 2/-
 per equity share of Rs. 10/- each.
 
Source : Dion Global Solutions Limited
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