Company History - Malabar Building Products
YEAR EVENTS
1982 - The Company was Incorporated on 17th May, in Kerala and
obtained
the Certificate for commencement of Business on 7th December.
It
was promoted jointly by Hyderabad Industries Ltd. (HIL), and
Kerala State Industrial Development Corporation Ltd.,
(KSIDC).
- The Company's objects is to manufacture of asbestos cement
sheets
and accessories.
- The company undertook to set up a project for manufacture of
36,000 tonnes per annum of cement sheets and accessories.
Land
admeasuring 12.5 acres was acquired at Killanur village, a
notified backward area in the Thrissoor District of Kerala.
The
major part of the plant was supplied by HIL, incorporating a
fully automated process.
1986 - 70 shares subscribed for by the signatories to the Memorandum
of
Association. 18,99,830 shares then issued at par out of
which
5,70,000 shares to KSIDC and 4,36,930 shares to Hyderabad
Industries Ltd., were reserved and allotted. Out of the
remaining 8,93,000 shares, the following shares were reserved
for
preferential allotments:
- (i) 95,000 shares to employees and Indian working directors
of
the company and
- (ii) 17,800 shares to Business associates of the company.
- Out of (i) and (ii) above, only 36,300 shares were taken up.
The
balance 7,80,200 shares, along with 76,500 shares not taken
up
out of preferential quota, were offered for public
subscription
during January-February 1986. Additional 1,99,000 shares
were
allotted to the public to retain oversubscription.
1991 - 3,200 forfeited shares were reissued.
1992 - 500 forfeited shares were reissued.
1995 - The Company proposed to set up a manufacturing unit for
production of cultured marble products at Erumathala, near
Alwaye
Kerala.
1996 - The Company decided to take up fabrication and marketing up
surfacing materials from solid state products. The Company
has
made an arrangement with Wilson Art International Inc., U.S.A
for
sourcing basic material.
