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Empire Industries > Company History > Glass & Glass Products > Company History of Empire Industries - BSE: 509525, NSE: N.A
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Empire Industries

BSE: 509525|ISIN: INE515H01014|SECTOR: Glass & Glass Products
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Company History - Empire Industries
YEAR                       EVENTS
 1900 - The Company was incorporated at Mumbai.  The company has four
        operating enterprises viz, Empire Dyeing, Garlick
 Engineering,
        Vitrum Glass and Empire International. 
 
 1944 - 9000 Rights shares offered (Premium Rs. 50 per share; prop.
 3:1)
        18,000 bonus shares issued in prop. 2:1.
 
 1954 - 30,000 bonus shares issued in prop 1:1. 
 
 1967 - Vitrum Glass enterprise was acquired by the company and is
        engaged in the manufacture of glass hollow-ware for
        pharmaceutical, cosmetic, food and beverage industries.
 
      - 60,000 bonus shares issued in prop 1:1.
 
 1968 - Garlick Engineering division specialises in the manufacture
 of
        E.O.T. cranes (upto 100 tonnes capacity) as well as a new
 series
        of single girder cantilevered monobox cranes is in technical
        collaboration with J.H. Carruthers & Co. Ltd., of Great
 Britain.
 
 1969 - 60,000 bonus shares issued in prop. 1:2.
 
 1970 - 1,60,000 Right equity shares issued at par in prop. 8:9.
 
 1972 - Garlick Engineering enterprise has agencies for machine tools
 and
        measuring instruments made by foreign and Indian
 manufacturers. 
        The enterprise was acquired on 1st January.
 
      - 1,10,000 shares issued to members of Garlick & Co. Pvt. Ltd.,
 on
        its merges.
 
 1973 - Empire International enterprise was started in January as a
        merchant export house.  The main items were textiles,
 processed
        foods, live stock and engineering goods.
 
 1975 - The name of the company was changed from The Empire Dyeing
 and
        Manufacturing Co. Ltd., to the present one on 1st July.
 
      - On 2nd Janury, 4,50,000 Bonus Equity shares in the prop. 1:1.
 
 1979 - 2,66,666 shares issued (prem. of Rs. 5 per share) on
 conversion
        of debentures.
 
 1981 - 2,91,667 rights shares issued at par in prop. 1:4.
 
 1983 - 2,91,667 rights shares issued at par in prop. 1:5 in July.
 
 1984 - In September, 2,50,000 rights shares issued in prop. 1:7.
 
 1985 - The Empire Dyeing speciality fabrics unit suffered a setback
 on
        account of rise in input costs and emergence of small power
        processors and hand processors.   Government's encouragement
 to
        polyester cotton blended fabrics helped the unit to remain in
 
        business.  The unit proposed to enter into areas of
 industrial
        fabrics and worsted suitings.
 
      - In October, 6,66,666 rights shares issued at par in prop.
 1:3.
 
 1986 - Empire Instrumentation division secured the exclusive
        representation of Spacelabs, U.S.A., manufacturers of
 cardiology
        instruments.
 
 1987 - The operations at Empire Dyeing speciality fabrics division
 were 
        drastically reduced to prevent further drain on the profits
 of
        the company.
 
      - The Vitrum Glass plant remained closed for 2 months for
        modernisation and relining of its furnace carried out with
 the
        technology from its collaborators Owens Illinois Glass
 Containers
        Inc., U.S.A.
 
      - With a view to diversification, the company secured agencies
 from
        MDA Scientific Inc., U.S.A., for toxic gas monitoring
 instruments
        and from Benthos Inc., General Oceanics Inc., and Interocean
        Systems Inc., U.S.A., for Oceanography Instruments.
 
      - 9,99,999 rights equity shares issued at par in prop. 1:4.
 
 1988 - On 27th June, the company issued and allotted 1,00,000-14%
        secured redeemable non-convertible debentures of Rs. 100 each
 on
        private placement basis to Army Group Insurance Directorate,
 New
        Delhi.  These debentures were to be redeemed at a premium of
 5%
        at the end of the 7th year from the date of allotment of
        debentures.
 
      - 10,00,000 rights equity shares issued in prop. 1:5 on 28th
        February.
 
 1989 - With a view to improving profitability, the division's
 machinery
        and equipment were upgraded incorporating the latest
 technology.
 
      - The Empire Chemicals division was established.  Initially, it
 was
        proposed to concentrate on commodity and speciality plastic
        materials, bulk drugs and pharmaceutical intermediates and
        speciality industrial chemicals.  The divison entered into
        marketing arrangements with some well known overseas
 suppliers
        and obtained the first overseas orders.
 
 1990 - The operations were further affected by the continued lock-out
 in 
        the Ankleshwar factory from 20th November.
 
      - The Company entered into a technical collaboration agreement
 with
        Novell GmbH, West Germany for the manufacture of Steel Mill
 duty
        cranes. 
 
      - Empire Machine Tools division had a set-back due to foreign
        exchange crisis.
 
      - Empire Chemicals division obtained several agency
 representations
        from overseas suppliers of various countries such as U.S.A.,
        Holland, etc.
 
 1991 - Negotiations were on for finding alternative productive 
        employment for the remaining labour force and premises.
 
      - Labour problems escalated resulting in a lock-out at the 
        Ambernath works.  The lock-out at Ankleshwar and Ambernath 
        adversely affected the working results.
 
      - Empire Instrumentation units' ambitious growth plans suffered
 a
        setback due to reasons such as import compression,
 devaluation,
        low fund availability and recessionary trends in the economy.
 
      - The sales and earnings were affected by the stringent import
        curbs imposed by the RBI.  However, all efforts were made to
        widen the product base by finalising arrangements with
 several
        internationally known manufacturing and trading companies
 viz.,
        Buckman Laboratories U.S.A., Kenko Commerce & Co., Japan,
 Dolder
        A.G., Switzerland, etc.
 
 1992 - Empire Dyeing division continued to be stranded for lack of 
        remunerative business in fabric processing, the plant being
        located in the heart of the city of Mumbai.
 
      - Working suffered indirectly because of the reduced
 development
        expenditure by the Government of India.
 
      - Empire Chemicals division entered into new working
 arrangement
        with fresh overseas suppliers.
 
      - The company took the opportunity to capitalise on Warehousing
 by
        creating vacant area through re-organisation of its offices
 and
        plant lay-outs.  This activity was expected to bring in
        substantial resources to the company.
 
 1994 - Garlick Engineering division declared a voluntary retirement
        scheme for its workers as there seemed no possibility of
 revival.
        The lock out position continued and some of the workers
 resigned
        under the voluntary retirement scheme.
 
      - One six section bottle forming machine was also replaced by
 an
        imported eight sections machine, which would lead to a 10%
        increase in production.
 
      - Machine tools with sophisticated technologies were developed
 and
        carry forward orders to the tune.
 
      - A number of new principals were under development and a
 marketing
        tie-up was concluded with one of the world's largest
        multinationals in the field of speciality chemicals viz. Rohm
 &
        Hass Company, USA.  The division made all efforts to broad
 base
        its product portfolio.
 
      - Empire Products Ltd. ceased to the subsidiary of this company
        w.e.f. 31st March, Empire Securities Ltd. are the subsidiaries
 of
        the company.
 
 1995 - Lock out position continued and there was no immediate 
        possibility of revival.
 
      - The addition of two section coupled with technological
        upgradation resulted in an increase in the production
 capacity
        from 10 lakhs to 11 lakhs bottles per day.
 
      - The Empire Machine Tools division developed parallel lines
        comprising of high-tech, high value as also low valued items
 so
        that it could cater to different segments of industries.
 
      - Empire Chemicals division recorded a revenue growth of 18%
        contributed mainly by Speciality Industrial Chemicals.
 
      - A new Empire Metals division was formed which made forays in
        indenting and international trade of Iron and Steel products.
        The division developed expertise to handle bulk iron and
 steel
        products like hot and cold rolled coils/sheets/structurals,
        wirerods of carbon, Alloy, constructional steels etc.
 
 
 2004
 
 - The Board has Recommended to the shareholders the payment of
 dividend of Re 1 (Tax free 10%) per Equity Shares of Rs 10 each.
 
 
 2005
 
 - The Board has recommended to the shareholder the payment of
 dividend of Rs 2 (Tax free 20%) per Equity Shares of Rs 10 each.
 
 
 2006
 
 - The Board has recommended to the shareholders the payment of
 Dividend of Rs 4/- (Tax Free 40%) per Equity Shares of Rs 10/- each.
 
 
 2007
 
 - The Board has recommended to the shareholders the payment of
 Dividend of Rs 6/- (Tax free 60%) per Equity Shares of Rs 10/- each.
 
 
 2008
 
 - The Board has recommended to the shareholders the payment of
 Dividend of Rs 8/- (Tax Free 80%) per Equity Shares of Rs 10/- each.
 
 
 2009
 
 -The Board recommended to the shareholders the payment of Dividend of
 Rs 10/- (Tax free 100%) per Equity Shares of Rs 10/- each.
 
 
 2010
 
 - The Board recommended to the shareholders the payment of Dividend
 of Rs. 20/- (Tax free 200%) per Equity Shares of Rs. 10/- each.
 
 
 2011
 
 - The Board recommended to the shareholders the payment of Dividend
 of Rs. 22 (Tax free 220%) per Equity Shares of Rs. 10 each.
 
 
 2012
 
 - Mr. Subodh Chandra has been appointed as an additional Director of
 the Company.
 
 - TheBoard recommended to the shareholders the payment of Dividend,
 of Rs. 24 (Tax free 240%) per Equity Shares of Rs. 10 each.
 
 2013
 -Empire Industries Ltd has informed that the Board of Directors of
 the Company has recommended Dividend of Rs. 24 (Tax free 240%) per
 Equity Shares of Rs. 10 each.
 
 2014
 -Empire Industries Ltd has informed that the Board of Directors of
 the Company has recommended Dividend of Rs. 24 (Tax free, 240%) per
 Equity Shares of Rs. 10 each.
 -Empire Industries Ltd has informed that Mrs. Uma Ranjit Malhotra has
 been appointed as an additional Director of the Company with effect
 from May 29, 2014.
 
Source : Dion Global Solutions Limited
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