Garware Technical Fibres Ltd.

YEAR                       EVENTS
 1976 - The Company was incorporated on 1st April.  It was promoted
 by
        Garware Filament Corporation Pvt. Ltd. and Wall Industries
 Inc.,
        U.S.A. Garware Filament Corporation Pvt. Ltd. was established
 in
        1960 and was one of the leading manufacturers of synthetic
        Ropes and twines in India.  The products are marketed under
 the
        tradename Garfil.
 
      - In October, the Company entered into two agreements with Wall
        Industries Inc., U.S.A.
 
 1977 - Pursuant to an agreement dated September 14th, entered into
        between the Company and Garware Filament Corporation Pvt.
 Ltd.,
        the entire Rope and twine manufacturing business including
        building, plant and machinery of Garware Filament Corporation
        Pvt. Limited was acquired by the Company.
 
      - 1,20,000 shares taken up by Garware Filament Corpn. Pvt.
 Ltd.,
        and its nominees.  1,20,000 shares issued to Wall Industries,
        Inc. U.S.A. 3,60,000 shares then issued at par of which
 30,000
        shares reserved and allotted to directors, etc. and 3,30,000
        shares offered to the public during April/May 1978.
 
 1981 - The Company received an industrial licence for expansion of
 its
        capacity from 2,324 tonnes to 4,324 tonnes per annum.
 
      - 3,60,000 bonus equity shares issued in prop. 3:5.
 
 1987 - The Company's licensed capacity was re-endorsed as 5,278
 tonnes
        per annum.
 
      - The Company received a letter of intent for the manufacture
 of
        polypropylene multifilament yarn to the extent of 2,000
 tonnes
        per annum.  Necessary steps were being taken to implement the
        project.  A R&D plant for developing indigenous technology
 for
        this was installed.
 
      - 9,60,000 bonus shares issued in May 1988 (pro. 1:1). 7,68,000
        rights shares issued in Jan. 1989 (prem. Rs 20 per share;
 prop.
        2:5).  Additional 1,15,200 shares allotted to retain
        oversubscription.  38,600 shares allotted to employees (prem.
 Rs
        20 per share) under Stock Option.
 
 1989 - The Company received another letter of intent for the
 manufacture
        of polypropylene staple fibre to the extent of 2,000 tonnes
 per
        annum.  The manufacturing activities of both polypropylene
        multifilament and polypropylene staple fibre were proposed to
 be
        carried out under a newly formed division named Fibre
 Division.
 
      - The company issued 2,25,000-14% Secured Redeemable
        Non-Convertible debentures of Rs 100 each for cash at par by
 way
        of private placements to SBI Mutual Funds.  The debentures
 are
        redeemable at a premium of 5% at the end of the 7th year from
        26-9-1989.
 
 1991 - The Company newly formed Textiles Division received the
        necessary approvals from Government to manufacture terry
        towels/fabrics and made-ups to the extent of 4,960 TPA under
 the
        100% export oriented unit scheme.
 
      - The company proposed to set up a capacity of 2000 TPA against
        this approval in Phase I at Taloja, near Mumbai in
 Maharashtra.
 
 1993 - 28,41,800 right equity shares allotted (prem. Rs 50 per share)
 in
        prop. 1:1.
 
 1994 - The company proposed to enable the synthetic cordage
        manufacturing capacity from 12,500 tonnes to 20,800 tonnes
 per
        annum.
 
      - By way of diversification and forward integration, the
 Company
        had started manufacturing fish net webbings by utilising its
 own
        twine.  The company proposed to increase the facility to
 3,600
        tonnes per annum.
 
      - The Company entered into a technical collaboration agreement
 with
        Toyo Kogyo Co. Ltd. to Japan for manufacturing fishnet
 webbing
        machines.
 
      - The company was in the process of finalising joint venture
 with a
        Danish company for setting up a 100% EOU for manufacturing
        braided twines.  The Company also decided to diversify into
 the
        manufacture of heat resistant rubber tension tapes and threads
 in
        technical know-how with Rotunda PLC of U.K.
 
      - 57,04,100 bonus equity shares allotted in prop. 1:1.  20,500
 No.
        of equity shares allotted (prem. Rs 100 per share) to
 promoters
        and their associates on conversion of debentures.
 
 1995 - 85,48,188 right shares issued (prem. Rs 55 per share) in
 prop.
        3:4 7,962 shares issued to NRIs on repatriation basis.
 
 2000 - Garware Wall Ropes Ltd., has decided to acquire 51 per cent
 of
        the share capital of Subhashish Investments and Trading Co.
 Pvt.
        Ltd., a software company.  After acquisition, Subhashish
        Investments will become a subsidiary of Garware.
 
 2005
 
 -Garware-Wall Ropes has recommended a dividend of 25% 
 
 2006
 
 -Mr. R B Garware has been appointed as Whole-time Director,of the
 company.
 
 2007
 
 -Garware Wall Ropes has recommended dividend @ 25% 
 
 2008
 
 -Garware Wall Ropes has recommend a Dividend 25% 
 
 2009
 
 -Garware Wall Ropes has recommended a Dividend of Rs 2.50 per share
 of Rs 10/- each.
 
 2010
 
 -Garware Wall Ropes recommended Dividend Rs. 2.50 per share of Rs.
 10/- each.
 
 2011
 
 -Garware Wall Ropes recommended Dividend Rs. 2.50 per share of Rs.
 10/- each.
 
 2012
 
 -Garware Wall Ropes recommended Dividend Rs. 2.50 per share of Rs.
 10/- each.
 
 2013
 -Garware Wall Ropes Ltd has appointed Mr. P. N. Shah as an Additional
 Director (Independent) of the Company.
 -Garware Wall Ropes Ltd has recommended a Dividend of Rs. 2.50 per
 share of Rs. 10/- each.
 
 2014
 -Garware Wall Ropes Ltd has recommended a Dividend of Rs. 2.70 per
 share of Rs. 10/- each.
 
 2015
 - Garware Wall Ropes Ltd was honoured with the 2nd Most Innovative
 Exporters 2015 at the ECGC  D&B Indian Exporters’ Excellence Awards
 2015.
 - Garware Wall Ropes earns 'Best Aquaculture Cage Net Manufacturer
 Award' at Aqua International(AI) Awards 2015.
 
 
 2017
 -'Garware Wall Ropes Ltd and Israel's Aero-T ink MOU to explore
 mutual co-operation for manufacturing advanced Aerostats for Indian
 Defence'.
 
 2018
 -Company name has changed to Garware Technical Fibres Ltd. from
 Garware-Wall Ropes Ltd.
 -Garware Technical Fibres Ltd ranked among India’s Best Companies to
 Work.
 
 2019
 -Garware Technical Fibres a leading manufacturer of technical
 textiles for the Indian and global markets has been awarded with ‘The
 Economic Times Polymers Awards 2019’.
 -Garware Technical Fibres has been awarded the Silver Medal in the
 prestigious India Green Manufacturing Challenge 2019.