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History of Axtel Industries Ltd.

Back Ground:- Advanced Extrufoil Technology & Exports Ltd [AXTELs], a Baroda based Comp. is incorporated on 24th June 1975. On 8th December, 1992, AXTEL entered into the capital market with a public issue of Rs.61.25 lach equity shares. The Comp. started its commercial production in the first quarter of 1993.

Project:- AXTEL is in the field of providing plants & know-how on turnkey basis for Food & Feed processing Industries for manufacturing electro deposited copper foils for Printed Circuit Boards. They also supplying material handling & process equipment for Chemical, Food & Sugar Industries.

Equity Participation:- 42% of equity is holding by NRIs. 41% by Indian Public & remaining 17% by Promoters & Employees.

Group Companies:- Promoters already having two existing companies - Advanced Foil Exports & Age Technologies [Ps] Ltd.

Technical Collaboration:- AXTEL has a technical collaboration with Advanced Foil Technologies, USA. However, Comp. has not yet set up any plant based on their technology & no steps have taken towards technology absorption.

Competitors:- In the field of Electro Foils, Gould Inc, USA, Yates & Mitsui [Japans] are the 3 major world competitors for AXTEL. Earlier as a technology supplier, Advanced Foil supplied its technologies to 2 other Indian companies. They are Pratap Rajasthan Copper Foils and Laminates Ltd, Rajasthan [presently a BIFR refered companys] & Indian Galvanics Cyriam Foils Ltd, Gandhinagar in Gujrath [nearing completions]. Export Strategy:- Earlier, AXTEL was planned to export 76% of its production because the product has a large demand in the International Market. But AXTEL failed to get regular export orders & presently it has no major export orders in hand. Raw-Material:- The major raw materials for its products are mild steel, stainless steel, sheets, bars, cirles & box angles of various sizes. Major suppliers are TISCO & IISCO.