|
History of
Artech Power Products Ltd.
The Comp. was incorporated on 15.09.1989 with the Registrar of Companies, Kerala at Cohin & obtained the Certificate of Commencement of Business on 08.11.1989.
KSIDC LTD,identified Switch Mode Power Supplies [SMPSs] as a feasible project based on a preliminary study conducted by it & signed a Memorandum of Understanding with Mr. i V Vijayan, the main promoter for jointly promoting the idustrial venture. The Comp. applied for & obtained a Letter of Intent for manufacture of 75,000 numbers of SMPS of various ranges per annum. The Comp. entered into a Memorandum of Understanding with M/s Tectrol Inc. Toronto, Canada, for technical & financial collaboration. On Acc. of financial & other internal problems of Tectrol Inc., the Comp. backed out of joint venture proposal.
The Comp. later identified M/s Astec America Inc., who are the world`s largest vendor of merchant power supplies, as the technical collaborator & singed an MOU with them on 19th April 1993. Reserve Bank of India gave its approval for collaboration vide letter no EC CO FITT 623/A-92/92/93 dated 2nd June 1993. The final agreement with Astec was executed on 3rd November 1993 for manufacturing license & technical collaboration for a range of SMPS upto 500w & foir exclusive distribution of Astec`s other products upto 3,000W in India, Bangladesh, Pakistan & Sri Lanka.
Present Business
The Comapny is int he process of setting up a unit for manufacture of Switch Mode Power Supplies at Kandanadu in Ernakulam District, Kerala STate in technical collaboration with M/s Astec America Inc. The Comp. expects to commence commercial production by September 1994.
|
