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History of Amex Carbonates and Chemicals Ltd.

History, Main Objects & Present Business of Company

History

Amex Carbonates & Chemicals Ltd was incorporated on 17th December, 1991 as a Public Limited Comp. & has obtained Certificate of Commencement of Business from the Registrar of Companies. Maharashtra at Bombay on 23rd January, 1992.

Originally, the Comp. planned to set up an SSI Project for the manufacture of 5 tpd of Barium Carbonate, 3 tpd of Sodium Sulphide & 1.25 tpd of Barium Chloride. Accordingly, the Comp. received Provisional SSI Registration No.111913223 dated February 29, 1992. This project was planned to be implemented by December, 1992, at a total cost of Rs.246 lacs, as appraised by SICOM. This Project, suffered time & cost overruns, due to modifications in the original plant and building plans and the paramount importance given by promoters, to establish the right quality. Due to the increasing market potential for aforesaid products, it was decided to concurrently increase the capacity of Barium Carbonate, Sodium Sulphide & Barium Chloride to 10 tpd, 6 tpd and 2.5 tpd respectively. The Comp. has commenced commercial production in respect of Barium Carbonate & Sodium Sulphide from January, 1995. The production of Barium Chloride is planned to be commenced after installation of additional balancing equipment.

As the Comp. planned to expand the installed capacity for Barium Carbonate & allied products, in view of the growing market potential for same, & as such expansion would entail investment in fixed assets, beyond the limit prescribed for Small Scale Industrial Units, the Company applied for a Carry on Business [COBs] license to the Entrepreneur Assistance Unit, Secretariat of Industrial Approvals, Department of Industrial Development, Ministry of Industry, Government of India, which has been duly acknowledged vide Reference No. 33/SIA/COS/94 dated 10.10.94 & the final licence is awaited.

Further, in respect of Projects for manufacture of PNCB, ONCB & Benzyl Alcohol, Benzaldehyde, the Company has filed Memorandum of Information with the Entrepreneur Assistance Unit, Secretariat of Industrial Approvals, Department of Industrial Development, Ministry of Industry, Government of India, which has been duly acknowledged vide Reference No. 3285/SIA/IMO/94 dated 28.09.94.