History of Alkyl Amines Chemicals Ltd.

YEAR EVENTS 1979 - The Comp. was incorporated on 17th October, at Mumbai. The Comp. was promoted by Yogesh M. Kothari, other members of the family & DSP Financial Consultants limited The Company Manufacture aliphatic amines such as mono ethyl amine, diethyl amine, mono cyclohexyl amine, di cyclohexyl amine, N-butyl amine, etc.

- The Comp. entered into a technical collaboration agreement with Leonard Process Co. Inc., U.S.A. [LPCOs] under which LPCO were to provide the Comp. process design & know how for the manufacture of Amines, operating manuals for plants and guarantee the performance of plant.

- A collaboration agreement was entered with Acid Amines Technology Inc. U.S.A for technical knowhow package & for putting up a new amines plant to cater to the demand for amines.

1981 - 7 Equity shares subscribed for by signatories to the Memorandum of Association. 2,00,000 pref. & 10,99,993 No. of equity shares issued at par through a prospectus. 2,99,993 No. of equity shares reserved for allotment to Yogesh M. Kothari, his relatives, etc., 1,00,000 No. of equity shares each reserved for allotment to DSP Financial Consultants Ltd., & SICOM & 2,00,000 pref. & 6,00,000 No. of equity shares offered to the public in December 1980. Preference shares redeemable during 20.1.1993/96.

1987 - 2,20,000 rights shares issued at par in prop. 1:5. 11,000 No. of equity shares allotted at par to employees.

1989 - A letter of intent was received for enhancement of production capacity to 8,500 MT per annum of aliphatic amines. The Company undertook to put up a new amines plant in order to cater to the demand for amines. This plant was to produce Methylamines and Ethyl amines.

- A collaboration agreement was entered with Acid Amines Technologie Inc. USA, for technical know-how package & for putting up the plant.

1991 - Diethyl, Hydroxylamine & butalamines were introduced.

- During April-May, the Comp. offered 3,16,686 - 14% secured redeemable partly convertible debentures of Rs 145 each on rights basis in the proportion 6 debentures: 25 equity shares held [all were taken ups].

- Another 15,834 debentures were issued to the employees on an equitable basis [only 15,709 debentures taken ups]. Unsubscribed 125 debentures were allowed to lapse.

- Rs 45 of face value of each debenture was to be converted into 1 equity share of Rs 10 each at a premium of Rs 35 per share on the expiry of 6 months from the date of allotment of debentures. Accordingly 3,32,395 share were allotted.

- Remaining Rs 100 of face value of each debenture was to be redeemed in 3 annual instalments of Rs 30, Rs 35 & Rs 35 respectively at the expiry of 6th, 7th & 8th year from the date of allotment of debentures.

1992 - The Comp. issued 25,000-14% cumulative redeemable preference shares of Rs 100 each to General Insurance Corporation of India & its subsidiaries & allotted them on 2nd April. These are redeemable after 10 years from the date of allotment.

1993 - The Comp. proposed to implement their speciality chemicals project through its subsidiary Alkyl Organics Ltd.

- During June-July, the Comp. issued 9,98,037 No. of equity shares of Rs 10 each for cash at a premium of Rs 20 per share each with a detachable warrant on rights basis in proportion 3:5.

1995 - Plant for Diethyl Toluamide & Diethyl Phenyl Acetamide was commissioned. Plant for diethyl hydroxylamine was being commissioned.

- The Comp. entered into a strategic marketing alliance with Rohm and Haas of USA for marketing of their primene range of amines in India.

1996 - The Comp. commissioned multipurpose plants to make various amine derivatives in their facilities at Kurkumbh. The Company commissioned multipurpose plants to manufacture Diethyl Toluamide & Diethyl phenyle acetamide which have repellant properties for usage by plants like Bayer India Ltd.

- The Comp. proposed to set up a dedicated 10,000 tpa Ethylamines plant at Kurkumbh to improve quality, get better yields & at lower cost of production.

- 9,96,185 No. of equity shares issued on warrant holders exercising their rights for conversion. Warrants were issued through a letter of offer issued in May 1993. In August 1996, Comp. allotted 9,96,185 No. of equity shares of Rs 10 each at a prem. of Rs 30 per share against warrants.

1997 - The Comp. streamlined its plant for manufacture of Dimethylaminopropolyamine & improved its efficiency.

- 36,52,610 bonus equity shares issued in prop. 1:1.

1998 - During the year the Comp. undertook to set up a Hydrogen plant at Kurkumbh.

- The Comp. entered into a joint venture with Goldschmidt AG, Germany, leading manufacturers of industrial surfactants and speciality chemicals with emphasis on organo-modified silicone based chemistry.

- The Comp. alonwith Mr. Amit Mehta and Associates proposed to acquire from M/s. Sintex Industries limited & their Associate BVM Finance Ltd., their controlling sake of 32% of share capital of Diamines & Chemicals Ltd., Baroda subject to approval of BIFR & participating Financial Institutions.

2000 - Alkyl Amines Chemicals has commissioned two new plants - Ethylamines & hydrogen at its Kurkumbh facility near Pune in Maharashtra.e

2007

-Alkyl Amines Chemicals Ltd has has appointed Mr. Suneet Y Kothari as Executive Director of Company.