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History of Ahura Welding Electrode Manufacturers Ltd.

YEAR EVENTS 1963 - Ahura Welding Electrode Manufacturers Limited. [AWEMLs] was incorporated on 31st December, as a Public Limited Comp. under the Companies Act, 1956. The Comp. obtained a license from the Government for manufacture of Manual Arc Welding Electrodes.

- The Comp. was originally promoted by Mr Soil Hataria, Mr A K A Rahaman Salt, Mr K Sunder Raj, Mr G N Venkatapathy, Mrs Dinoo S. Hataria, Mr A R Balakrishnan & Mr J M Thambuswamy. The Company ceased its operations in 1968 without getting into commercial production. The electrodes of Comp. are marketed under the brand name SUN ARC.

1979 - The Comp. started another factory in Ambattur Industrial Estate, Chennai for manufacturing welding electrodes during the year by obtaining a term loan of Rs 6.6 lakhs from TIIC Ltd.

- The present capacity of Welding Division is 55.42 Million Running Meters [MRMs].

- The Comp. has a well established dealer & sub dealer network that has been in existence for more than two decades for marketing its Electrodes.

1986 - The Comp. had made a Bonus Issue in the ratio of 1:1 by issuing 120000 shares on 27th March. The Comp. issued 15,00,000 Bonus Shares in the ratio of 3:1 by capitalising Rs 150 lacs out of its free reserves on 20, December, 1994.

1988 - The Comp. also made forays into Textile Industry [Kimura Textiles, a division of AWEMLs] for texturising & twisting of yarn with financial assistance from GSFC & GIIC.

1973 - The Comp. had an Equity of Rs 12.00 lacs. It issued Bonus shares in the ratio of 1:1 during the year 1986. The share holders of Comp. were offered equity shares in the ratio of 1:3 during the year 1992.

1992 - A Rights Issue of 8000 Shares of Rs 100/- each at par, which closed on 12th February. Of this 75,350 shares were subscribed & paid aggregating Rs 7,53,500/-. These Shares were allotted on 15th February.

1994 - A preferential offer of Rs.18.47 lacs was made to the promoters taking the Equity of Comp. to Rs.50 lacs. A Bonus Issue has been made In the ratio of 3:1 out of Free Reserves in December, thereby raising the Equity of Comp. to Rs 200 lacs. The shares of Comp. are listed on the Coimbatore & Madras Stock Exchanges.

- The Comp. proposes to expand & diversify its welding division of Coimbatore, by getting into the manufacture of Special Electrodes viz Low Hydrogen & Low Heat Input Electrodes.

- The Textile Division of Comp. proposes to expand its texturising capacity by adding 3 texturising machines with a capacity of 216 spindles each increasing its current capacity of 192 Spindles to 840 spindels.

- Surat based Textile Division was adversely affected due to the Recession in Textile Industry throughout 93-94; Imposition of Central excise duty on texturisers with effect from 1st March. - The Comp. had entered into international market by exporting electrodes during the year & it is making determined efforts to increase the export turnover & thereby earn valuable foreign exchange.

- The Comp. has proposed to buy & install one second hand imported texturising machine to increase the productivity of the textile division & make it a profitable division.

- The Comp. is also planning to increase the productivity of the welding division by installing an imported continuous drying oven & Semi Automatic packing machines to improve the productivity & quality.

1995 - The Comp. proposes to construct 15549 sq. ft. comprising Factory Building, Research & Development Lab & Administrative Block at Coimbatore.

- The Comp. also proposes to construct Factory Buildings, Raw Material and Finished Goods Store Rooms, Canteen aggregating 17643 Sq. ft at Surat.

- The Comp. proposes to establish a full fledged welding electrode manufacturing line for special electrodes.

- The Comp. has tensile Testing, Impact Testing, Hydrogen Level Testing Equipments & Carbon-Sulphur Determinator which given instantaneous computerised result.

- The Comp. has established a Central Marketing Division based at Chennai consisting of team of sales/marketing engineers posted at Various industrial towns & cities like Jamshedpur, Calcutta, Pune, Mumbai Chennai, Banaglore, Coimbatore, Ankleshwar etc.

- Public Issue of 20,00,000 Equity Shares of Rs 10/- each for cash at a Premium of Rs 30/- per share aggregating Rs 800 Lakhs.

1996 - The Comp. has installed additional machineries as required in its welding division for manufacture of M. S. & special type electrodes.

- The Comp. couldn't expand the production capacity of its Textile Division at Kim, Surat due to non-receipt of allotment money [including share premiums] to the extent of Rs.362.40 lacs.

1998 - The Company Research & Development wing has developed a special type of stainless steel electrode for critical application & the Comp. hopes to market this electrode in considerable quantity.