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Rexnord Electronics and Controls > Company History > Electric Equipment > Company History of Rexnord Electronics and Controls - BSE: 531888, NSE: N.A

Rexnord Electronics and Controls

BSE: 531888|ISIN: INE687C01012|SECTOR: Electric Equipment
Oct 15, 16:00
1 (4.23%)
VOLUME 2,279
Rexnord Electronics and Controls is not listed on NSE
Company History - Rexnord Electronics and Controls
Rexnord Electronics and Controls Limited was incorporated as a Private
 Limited Company on the 4th July 1988 under the name and style of
 Rexnord Electronics and Controls Private Limited and, later,
 converted into a Public Limited Company, pursuant to the provisions
 of Section 23 of the Companies Act 1956 by passing a Special
 Resolution in the Extra-Ordinary General Meeting held on the 8th
 March 1994. The Company obtained a fresh Certificate for change of
 name, on conversion, on the 15th April 1994 from the Registrar of
 Companies, Maharashtra, at Bombay.  
 The Company was set up in 1988 and was initially engaged in assembly
 of instrument cooling fans by importing the kits in complete
 knock-down condition. In the year 1992, the Company entered into a
 Technical Collaboration with M/s Sun Elect Trading Co. Ltd (Taiwan)
 for manufacture of AC fans and M/s Micron A.  Engineering Co. (South
 Korea) for manufacture of DC fans. The Company commenced the regular
 in-house production of AC fans and DC fans from basic raw materials
 in August 1993 and February 1994 respectively.
 The Company has expanded its production facilities at the existing
 site from 1 lac of AC fans and 2 lac of DC fans to 3 lac of AC fans
 and 7.62 lac of DC fans per annum. The required items of machines and
 moulds have been sourced through the Company's Technical
 Collaborators. The cost of
 the ongoing expansion is Rs. 208 lacs, which is financed by Equity
 Capital of Rs. 50 lacs, internal accruals of Rs. 8 lacs and
 interest-free loan of Rs. 5 lacs and a Term Loan of Rs. 145 lacs from
 SICOM under the Equipment Refinance Scheme.  
 The Company proposes to further expand its productions facilities at
 a new site in TTC Industrial Area (Electronic Zone), New Bombay. This
 expansion at the new site is the proposed project of the Company.
 -The Board of Directors of the Company has allotted 10,98,300 Equity
 Shares of Rs. 10/- each at a premium of Rs. 3.40/- each.
Source : Dion Global Solutions Limited
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