Johnson Controls -Hitachi Air Conditioning India Ltd.

YEAR                                                                  
       EVENTS
 1984 - The Company was Incorporated as a private limited company on
 7th
        December in the name of Acquest Air Conditioning Systems Pvt.
        Ltd.  It was converted into a public limited, on 30th June,
 1989. 
        Name was changed to Amtrex Appliances on 14th September,
 1990.
        Its manufacturing facilities are situated at Kadi, a notified
 
        backward area in North Gujarat for manufacture of air 
        conditioners.  Air conditioners consisting of window, split
 and
        multi split are marketed under the brand name `Amtrex'.
 
      - The Company's object is to manufacture air conditioning and
        refrigeration appliances and other durables.
 
 1989 - All shares taken up by promoters, directors etc.
 
 1990 - Equity shares sub-divided.  18,50,000 shares of Rs.10 each
 then
        issued at par of which 13,50,000 shares reserved and allotted
 on
        a firm basis to promoters, directors etc.  Of the remaining
        5,00,000 shares, 92,500 shares reserved for allotment on a
 pref.
        basis to employees of the Company as well as promoter
 companies
        (only 24,000 shares taken up).  The balance 4,07,500 shares, 
        along with 68,500 shares not taken up by employees, were
 offered
        for public subscription during February 1991 (all were taken
 up).
        Additional 2,77,500 shares allotted to retain
 oversubscription.
 
 1991 - The Company issued through a prospectus the following:
 
      - (A) Equity shares: 18,50,000 No. of equity shares of Rs.10
 each 
        of which 13,50,000 shares issued on firm allotment basis to 
        promoters, directors etc.  Of the remaining the following
 were
        reserved for allotment on preferential basis:
 
      - (i) 92,500 shares to employees;
 
      - (ii) 4,07,500 shares issued to the public.  Additional
 2,77,500 
        shares allotted to retain oversubscription.
 
      - (B) Fully convertible Debentures: 2,64,000 - 14% secured
 fully
        convertible debentures of Rs.125 each were also issued as
        follows:
 
      - (a) 13,200 debentures to employees;
 
      - (b) 2,50,800 debentures also were issued to the public.  
        Additional 39,600 debentures allotted to retain
 oversubscription.
 
      - Part A of Rs.50 of each debenture was converted into 5 equity
        shares of Rs.10 each on the date of allotment; 15,18,000
 shares
        were allotted.
 
      - Part B of Rs.75 was converted into 75 No. of equity shares
 for
        every 20 debentures held, on 15.10.1992 of Rs.10 each at a
 prem.
        of Rs.10 per share.  Accordingly 10,75,500 shares were
 allotted.
 
      - In July, the company launched the Amtrex-Shizuka range of
 wall
        mounted split air-conditioners.
 
 1992 - The company proposes to issue 9,83,193 Fully Convertible
        Debentures on rights basis, to raise Rs. 15.23 crores from
 the
        capital market.
 
 1993 - The Company undertook to upgrade its technology and increase
        installed capacity from 24000 units of air conditioners to
 50,000
        units per year.  
 
      - The company launched the 6,000 K. Cal (2.0 Ton) Cooling models
 
        manufactured  in technical collaboration with Hitachi Ltd.,
        Japan.
 
      - During the year, Avikal Investments Ltd. became a subsidiary 
 of 
        the company.  
 
 1994 - During March-April, the Company issued 9,36,375-14% fully
        convertible debentures of Rs.155 each on Rights basis in prop.
 1
        debenture : 4 equity shares held.  Another 3400 debentures
 were
        issued to employees (only 120 debentures taken up).
 
      - Part A of Rs.50 of the face value of each debenture was
 converted
        into 2 equity shares of Rs.10 each at a prem. of Rs.15 per
 share
        on the date of allotment of debenture.  Accordingly 18,72,990
        shares were allotted.
 
      - Part B of Rs.105 of the face value of each debenture was 
        converted into 3 equity shares of Rs.10 each at a prem. of
 Rs.25
        per share on 1.10.1995.
 
 1995 - The Company launched two major products viz. HAIKU, a 0.75
 Ton
        window Air conditioner with Hitachi Rotory Compressor, QUADRA,
 a
        ceiling mounted split Airconditioner with Hitachi scroll
        compressor in 4.0 Ton capacity.
 
      - AMTREX entered into a Distributorship Agreement with IMI 
        corneilins of U.K. for marketing and servicing of Dispensers
 in
        India.  The Company has also enhanced the production capacity
 of
        Airconditioners from 50,000 units to 1,00,000 units.
 
      - 28,09,485 No. of equity shares allotted on conversion of Part
 `A'
        of 14% FCD.
 
 1996 - The Company has also now fully geared up to receive ISO 9001
        certification by year end.
 
      - The Company has also launched KAIZEN in manufacturing
 operations
        and has made significant contribution to work culture among
 the
        employees.
 
 1997 - The Company, successfully launched and marketed imported soft
        drink fountains.
 
      - Amtrex has entered into a Technical Collaboration with ORFORD
        REFRIGERATION of Australia for manufacturing Visi-Coolers, a
        Commercial Refrigeration product.
 
      - The Company has launched Just In Time (JIT) Programme.
 
      - Rating of 'FA+' assigned by CRISIL to the Fixed Deposit Scheme
 of
        the company has been retained.
 
 1999 - The Company introduced 3 new models of Room Air-conditioners,
        which received encouraging response.
 
      - The Company's manufacturing facilities, became the seventh
 base
        worldwide for production of Hitachi brand Air-conditioners. 
 
      - The Company has launched 4 new models under the Hitachi
 brand,
        which have been well received by the market.
 
      - With effect from 1st April, Mr. Yuuhiko Yabe has been
 appointed
        as the Joint Managing Director.
 
 2000 - The Company joint venture between Hitachi Ltd, Japan, and the
              Ahmedabad-based Lalbahi group, has posted an impressive
 33 per
              cent growth in revenue.
 
            - Crisil has reaffirmed the FA+ rating assigned to the
 fixed deposit
              programme of the company.
 
 2001 - The Company a joint venture between Japanese conglomerate
 Hitachi and the
               Lalbhai group, is currently working on plans to broad
 base its presence in India by 
               introducing a range of Hitachi retail and home
 appliances products.
 
 2003 -Lalbhai Group Nominees Mr Sanjay S Lalbhai, Chairman and Mr
 Naishadh Parikh, Managing Director has resigned from the Board of
 Directors of the Company and Hitachi inducted Mr Shinya Yoshinaga as
 Chairman, Mr Shoji Tsubokuta as Managing Director and Mr Makoto
 Takeshita as Additional Director.
 
 -Mr. Mahesh Agrawal, GM Legal & Company Secretary has resigned from
 the Company.
 
 2004
 
 -Allots 82,91,043 equity shares on rights basis of Rs 10/- each on
 January 30, 2004
 
 -Launches new range of window air-onditioner (AC), Hitachi
 Quadricool, in Chandigarh
 
 - Announces the launch of five new cooling solution products for the
 Indian market on September 9, 2005. The products include the Sense I
 split air conditioner, two models of the floor standing Hitachi Tower
 air conditioner, the Microcool Cassette ceiling air conditioner and
 the high end Quadricool window air conditioner.
 
 2005
 
 -Hitachi unveils two new products Quadricool TM and Atom UV.
 
 2007
 
 -Hitachi Home & Life Solutions India Ltd has appointed Mr. Akira
 Kamitani as Chairman and Director of the Company with effect from
 April 01, 2007.
 
 2008
 
 -Hitachi Home & Life Solutions India Ltd has appointed Mr. Kenichi
 Munakata as Chairman and Director of the Company with effect from
 February 01, 2008.
 
 -Hitachi Home & Life Solutions India Ltd has appointed Dr. Anwar Ali,
 Mr. Ashok Balwani and Dr. Devender Nath Dave as independent directors
 of the Company.
 
 
 2009
 
 -Jan: Launched India's first split Ac (ACE Follow Me) with Movement
 Sensor to detect Human movement and diverting the Airfolw accordingly
 and ACE cutout with 0.9,1.2.1.5 and 2.O Tr, the capacitities for
 Customers specific personal needs.
 
 2010
 
 -Launched i-TEC, India's First Inverter airconditioner which is made
 in India & designed for 520 C with Hitachi's patented PAM
 technology.
 
 -Launched Fully loaded Kaze range of air conditioners for the mass
 premium segment.
  
 -Started manufacturing of water cooled chiller of 40 HP - 120 HP
 capacities in India.
 
 -ntroduced Company Owned and Company Operated Service Centres -
 Hitachi Customer Satisfaction (HCS).
 
 2011
 
 -Launched i-Clean, India's First air conditioner with Automatic
 filter cleaning technology by which it cleans its filter
 automatically.
 
 -Launched Summer, India's First 5 star rated Window air conditioner.
 
 2012
 
 -Introduced India's First star rated Cassette air conditioner.
 
 -Introduced 5 star rated Summer TM window air conditioner with twin
 motor technology.
 
 -Introduced Inverter technology in refrigerators.
 
 2013
 -Hitachi Home & Life Solutions Ltd Issues Rights in the Ratio of 1:5
 
 - Hitachi Home & Life Solutions (India) Ltd has re-constructed
 manufacturing facility at Karan Nagar, Kadi has been inaugurated on
 January 13, 2013.
 
 - Mr. Shoji Tsubokuta appointed as Managing Director of the Company.
 
 2014
 
 - Mr. Gurmeet Singh has been appointed as an Executive Director of
 the Company.
 
 - Ms. Indira Parikh has been appointed as an Independent Director of
 the Company. 
 
 - Japanese electronic goods maker Hitachi has emerged as the top
 contender to buy the promoter's stake in Crompton Greaves, a power
 transmission and distribution company owned by billionaire Gautam
 Thapar.
 
 2015
 -Hitachi Automotive establishes new auto parts plant in Tamil Nadu
 
 2016
 -Hitachi Elevator Asia has been awarded an order for 23 units of
 elevators from ITC Ltd which is setting up a five-star deluxe hotel
 project in Hyderabad.
 -Hitachi Home & Life Solutions (India) Ltd shall be changed to
 Johnson Controls - Hitachi Air Conditioning India Ltd and the trading
 symbol of the Company be changed from HITACHIHOM TO JCHAC.
 - Hitachi Ltd has announced a joint venture with electronics
 equipment manufacturer Johnsons Control to provide innovative and
 complete HVAC (heating, ventilation, and air conditioning) solutions.
 
 -JCH receives Environment Minister's Award for Global Warming
 Prevention Activities 2016.
 -JCH to introduce Hitachi room air conditioning system Stainless
 Clean Shirokuma-kun X Series.
 
 2017
 -Hitachi Room Air Conditioner Stainless Clean Shirokuma-kun Premium X
 Series has launched.
 
 
 2023
 -Johnson Controls-Hitachi Air Conditioning Launched air365 Max Cost
 Efficient HVAC Solution for Professionals, Architects, and Buildings
 Owners.