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Century Extrusions > Company History > Aluminium > Company History of Century Extrusions - BSE: 500083, NSE: CENTEXT
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Century Extrusions

BSE: 500083|NSE: CENTEXT|ISIN: INE281A01026|SECTOR: Aluminium
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Dec 06, 16:00
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Company History - Century Extrusions
YEAR                       EVENTS
 
 1988 - The Company was incorporated in February and was promoted by 
        M.P. Jhunjhunwala and C.L. Jhunjhunwala.
 
      - The Company's objects is to manufacture aluminium extruded 
        products.
 
      - The Company undertook to set up a project for the manufacture
 of
        7,000 tonnes per annum of aluminium extruded products finding
 use
        in a wide range of industries such as architecture, 
        transportation, refrigeration etc.  Leasehold land
 admeasuring
        7.3 acres was obtained at the West Bengal Industrial Growth
        Centre, Midnapore, a centrally notified backward area in West
        Bengal.  The main plant and machinery include two extrusion 
        presses of 900 tonnes and 1,600 tonnes (imported from UBE
        Industries Ltd., Japan) a melting furnace, etc.
 
      - During March, the company entered into a technical advisory 
        agreement with M/s. P.K. Consultants headed by P.K. Sengupta
 for
        technical details of the project, selection of the equipment,
 
        co-ordination in project execution, assistance in training of
        personnel, start up of production, etc.
 
 1989 - 20,000 shares allotted to promoters.  35,60,000 No. of equity
        shares then issued at par of which the following shares were 
        reserved and allotted on a firm basis:
     
      - (i) 13,90,000 shares allotted to promoters, directors, their
        friends etc. and
   
      - (ii) 3,90,000 shares to WBIDC.  Of the balance 17,80,000 No.
 of
        equity shares, the following shares were reserved for
 allotment
        on a preferential basis:
       
      - (i) 1,50,000 shares to SBI Mutual Fund,
 
      - (ii) 2,00,000 shares to Canbank Mutual Fund and
     
      - (iii) 1,78,000 shares to employees (including Indian working 
        directors)/workers of the company (only 74,500 shares taken
 up).
        The remaining 12,52,000 shares along with 1,03,500 shares not
        taken up by employees were offered for public subscription
 during
        February 1990.  Additional 2,67,000 shares allotted to retain
        oversubscription.
 
 1991 - 21,79,206 rights shares issued at par in prop. 1:2.  Another
        7,500 shares allotted to employees.
 
 1992 - During August, the company offered 19,23,500 No. of equity
 shares
        of Rs.10 each for cash at par on Rights basis in the prop.
 1:2.
        All were taken up.  Additional 2,55,706 shares allotted to
 retain
        over subscription.
 
      - Another 96,200 No. of equity shares were issued to the
 employees
        (including Indian working directors)/workers of the company
 on
        an equitable basis.  Only 7,500 shares taken up.
 
 1994 - Towards meeting the commitment under the settlement, the
 company
        made a preferential allotment of 10,00,000 No. of equity
 shares
        of Rs.10 each to the promoters, at a prem. of Rs.10 per
 share.
 
 1995 - 7,31,146 No. of equity shares on conversion of 25% of term
 loan
        to the Financial Institution.
 
 1996 - The Company along with its promoters took over the management
 of
        Sangam Aluminium Ltd. by acquiring 22.84% stake of the SAL's 
        issued capital.  The Company purchased 3,00,000 shares while
        promoters bought 5,10,700 No. of equity shares.
 
      - 10,00,000 No. of equity shares allotted on preferential basis
 to
        promoters.
 
 2000 - The Company has allotted 42,49,048 No. of Equity shares of Rs
 10 each on 
              preferential allotment basis.
 
 2002-K K Agarwal resigns as Company Secretary of Century Extrusions.
 
 2003-Century Extrusions Ltd's Board of Directors at its meeting held
 on January 31, 2003 has appointed Mr Sumit Modi as the Company
 Secretary and also the Compliance Officer of the Company with effect
 from February 10, 2003.
 -Board approved the issue of 3,50,00,000 of Rights Equity Shares of
 Re 1/- each amounting to Rs 35 million in the ratio of 35:12
 
 2005
 -Century Extrusions Ltd Issues Rights in the Ratio of 35:12
 
 2004
 -Moulsree Jhunjhunwala has acquired of 361200 shares representing
 3.01% of the total paid-up capital of Century Extrusions Limited
 
 2008
 - Century Extrusions Ltd has informed that the Board of Directors of
 the Company at its meeting held on January 21, 2008, has appointed
 Mr. P K Sengupta as Alternate Director in absence of Mr. V K Mushran,
 w.e.f. January 21, 2008.
 -The company has issued rights in the ratio of 33:47 at a premium of
 Rs.3/- Per Share.
 
Source : Dion Global Solutions Limited
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