Grindwell Norton Ltd.

YEAR                                                        EVENTS
 1950 - The Company was incorporated as a public limited company on
 31st
        July, in the name of Grindwell Abrasives, Ltd.  The Company
        manufacture abrasive products.
 
 1967 - To keep abreast with the latest technology, the Company
 entered
        into a technical collaboration with Norton Co. of USA.
 
 1971 - The name of the Company was changed to Grindwell Norton Ltd.,
        with effect from 23rd June, consequent upon Norton Co., USA,
        investing in the Company's equity.
 
 1972 - The first silicon carbide plant was commissioned in
 Bangalore.
 
 1977 - Out of the shares issued till date, 14,000 shares were issued
        without payment in cash and 1,30,656 shares were issued as
 bonus
        shares (12,850 shares in 1966 in prop. 3:5, 36,622 shares in
        prop. 19:20 and 81,184 shares in 1977 in prop. 27:50.
 
 1979 - The second silicon carbide plant was commission at Tirupati
 in
        Andhra Pradesh.
 
      - The Company separated its manufacturing operations under two
        divisions, viz., the grinding wheel division and the
 abrasives
        materials division.  At its complex at Mora in Maharashtra,
 the
        grinding wheel division manufactures bonded abrasives, coated
        abrasives and super refractories.
 
      - The Company entered into coated abrasives business in the
 early
        seventies, restricting itself to coated discs, commonly known
 as
        sander discs.  The innovative zirconia aluminium oxide discs
 sold
        under the brand name Zircon revolutionised the sanding
        application.  Super refractories made from silicon carbide,
 are
        moulded in various shapes and sizes and are used in the
        manufacture of ceramic products such as sanitaryware,
 chinaware
        and insulators.
 
 1980 - The Government approved the Company's proposal to manufacture
        other coated products such as coated belts within the
 existing
        licensed capacity.
 
      - 1,39,916 bonus shares issued in prop. 3:5.
 
 1983 - The Company had in hand a licence to expand the installed
        capacity of super refractories from 150 tonnes to 1,000
 tonnes
        per annum.  It was proposed to set up a separate plant for
 this
        purpose.
 
      - The Company had developed a profitable agency business
        representing foreign principals.  The Company also commenced
        business of sourced products all the more significantly as
        supplier of quality cutting fluids and super abrasive
 products.
 
      - The Research & Development division of the Company developed
 high
        quality and performance abrasives and super refractories.
 
      - Equity shares of Rs 100 each subdivided into shares of Rs 10
 each
        on 3.10.1983.  9,26,125 No. of equity shares then issued at a
        prem. of Rs 10 per share of which 9,450 shares were reserved
 for
        which 9,450 shares were reserved for preferential allotment
 to
        employees and business associates of the Company.  The
 balance
        9,16,675 shares were offered for public for public
 subscription
        during Nov. 1983.  Arrears: Rs 64,000.
 
 1985 - The Company associated itself with Lincoln GmbH for
 developing
        markets for Centralised lubricating system and also proposed
 to
        indeginise the production in course of time.
 
 1986 - The range of coated abrasive products was expanded by the
        addition of silicon carbide water proof papers, rolls, emery
        cloth sheets, emery papers and other coated specialities.
 
      - With the assistance from Norton Company, the Industrial
 Ceremics
        division proposed to develop a market for industrial
 ceramics.
 
 1987 - As part of technology absorption and adaption programme,
        speciality resins and abrasive combinations were developed.
 
      - The Company's business made progress as planned and
 satisfactory
        progress was also achieved in the indeginisation programme.
 
 1988 - The Company was taking steps to strengthen its production
 base
        with additional capital expenditure.
 
 1989 - The centre carried out a company-wide `Benchmarking' project
 of
        Grindwell's product vis-a-vis domestic and international
        competitor's product.
 
 1990 - On 14th February, a new unit for silicon carbide plant
 Micogrits
        was commissioned.
 
 1991 - A number of new products were added to the industrial
 ceramics
        range.
 
      - The Company issued 59,410-17% redeemable debentures of Rs 100
        each.  These are redeemable in two equal annual instalments
 on
        2.1.2000 and 2.1.2001 at premium of Rs 5 per debenture to be
 paid
        on 2.1.2001.  Also 1,50,000-18% redeemable debentures of Rs
 100
        each were issued on private placement basis with the UTI. 
 These
        are redeemable in three equal annual instalments on
 26.11.1993,
        26.11.1997 and 26.11.1998, at a premium of Rs 5 per debenture
        payable in the second instalment.
 
 1992 - The Abrasive material division's business was adversely
 affected
        by erratic power supply and hike in power tariffs especially
        because the Company's silicon carbide and aluminium oxide
        business are highly dependent on power and its cost.
 
 1993 - The New Jumbo coating plant was commissioned in March which
        comprises modern plants incorporating Norton technology. 
 Company
        has successfully implemented the maker tandemisation project.
 
 1995 - The Company has introduced several new and improved products
 and
        strengthened its market.  The Company is setting up a new
        focussed plant dedicated to the manufacture of specific
 products
        near Nagpur.
 
 1996 - Coated abrasive business was affected due to negative growth
 in
        the tannery and plywood segments.
 
      - The Company has issued 69,20,000 No. of equity shares of Rs
 10
        each as fully paid bonus shares in the proportion of 1:1.
 
      - International Power Semiconductors Ltd., is a subsidiary of
 the
        Company.  An order was passed on 8th March, 1990 by Mumbai
 High
        Court directing the Company to wind up the subsidiary.
 
      - 22,89,435 No. of equity shares of Rs 10 each at a prem. of Rs
        238.75 per share allottred on preferential basis to Compaigne
 de
        Saint-Gobain to enable it to increase its combined holding to
        51%.
 
 2001- Grindwell Norton Ltd has informed BSE that the shareholders of
 the Company has             authorised the Board of Directors of the
 Company to sell the Fused Casts Refractories                         
 business to SEPR Refractories India Ltd. at a consideration of not
 less than Rs 60 million.
 
 2002
 
 -Signs a sale agreement with SEPR Refactories India Ltd.
 
 2003
 
 -Sells its holding of 3450 equity shares of Rs.100 each representing
 10% of the paid up capital of M./s Saint Gobain Diamant Winter Ltd.
 
 2005
 
 -Grindwell Norton Ltd and Orient Abrasives Ltd (OAL) has signed a
 Memorandum of Understanding (MOU).
 
 2006
 
 -Grindwell Norton has given the Bonus in the Ratio of 1:1
 
 -Company has splits its Face value of Shares from Rs 10 to Rs 5
 
 -Registered Office of the Company has been shifted from Army & Navy
 Building, 148, M.G. Road, Mumbai - 400 001 to Leela Business Park,
 5th Level, Andheri-Kurla Road, Marol, Andheri (East), Mumbai - 400
 059 
 
 2007
 -Grindwell Norton Ltd has informed that Mr. Joseph Andrew Jude
 Pereira has been appointed as an alternate director to Ms. M A Chupin
 with immediate effect in the meeting of the Board of Directors of the
 Company July 25, 2007.
 
 2009
 - Grindwell Norton Ltd has informed that the Board of Directors has
 appointed Mr. A C Chakrabortti as the Chairman of Board in its
 Meeting held on July 24, 2009.
 
 2010
 - Grindwell Norton Ltd has informed that the Board of Directors,
 through Circular Resolution appointed Mr. Mikhil Malvinder Narang as
 additional director w.e.f. February 24, 2010.
 
 
 2011
 -Mr. Guillaurne Jean Philippe Texier as  Appointed as Additional
 Director of the Company.
 
 
 2012
 -The Company had acquired industrial land in the state of Gujarat,
 for setting up a manufacturing facility for High Performance
 Refractory Business.
 
 2013
 - The Company has recommended a dividend of Rs. 6.50/- per equity
 share of Rs. 5/- each.
 - The Board of Directors have appointed Mr. Deepak Chindarkar, Vice
 President - Finance & IT, as the Chief Financial Officer of the
 Company.
 
 2014
 - The Company has recommended a dividend of Rs. 6.50/- per equity
 share of Rs. 5/- each. 
 - The Company has appointed Mr. Benoit d'Iribarne as Alternate
 Director to Ms. M-A. Chupin.
 
 2016
 -Grindwell Norton has allotted 5,53,60,000 ordinary equity shares as
 Bonus Shares to the Members of the Company entitled.
 
 2018
 -Grindwell Norton Forays into Automotive Detailing Segment with the
 launch of Norton Car Spa in Indore.
 
 2021
 -Grindwell Norton Limited Joint Venture With Shinagawa Refractories
 Co. Ltd, Japan,has successfully commenced its commercial operation of
 Tap hole clay refractory products for the steel industry.