History of Dagger-forst Tools Ltd.
The Comp. was incorporated on 4th May, 1965 in technical & financial collaboration with Oswald Forst GmbH, West Germany & their nominee Delt-Deutsch Finanzierungsgesellschaft fuer Beteiligungen in Entwicklungslandem GmbH, West Germany. The Comp. commenced business on 21st July, 1965. It was the pioneer in the manufacture of broaches [tailor-made precision toolss] in the country. The manufacturing facilities were set up in Thane, Maharashtra in 1966.
Subsequently in 1975, the Comp. expanded its capacity for manufacture of broaches by setting up a new unit at Aurangabad in Maharashtra. It also set up additional facilities at Aurangabad in 1977 to manufacture gauges in the U.K. in 1979 the Comp. started manufacture of metal slitting saws at Aurangabad.
The Company public issue during February 1985 was made with the objective of reducing the non-resident equity holding in the Comp. & to raise finds to augment the long term resources.
History & Major Events
Dagger Forst Tools Limited [DTFLs], a part of Yashovardhan Birla Group is engaged in the manufacture of highly specialized cutting tools viz. broaches, hobs, shaper cutters and shaving cutters [gear cutting toolss].
DFTL was incorporated in the year 1965 to set up a Broach manufacturing plant at Thane in Maharashtra in technical collaboration & equity participation with Oswald Forst GmbH of Germany & their nominee German Investment & Development Company.
In order to cater to the increased market demand for Broaches, the company set up another plant in 1975, at Aurangabad in Maharashtra.
The Company, as part of its diversification plans, set up another plant at Aurangabad in Maharashtra for manufacturing gauges in collaboration with W. Forst, England, in the year 1977, which was followed by another plant to manufacture slitting saws in the same Industrial Area.
In 1984, the Comp. purchased a plant at Aurangabad where gear cutting tools & built up hobs are manufactured. The said plant had the technical collaboration with Klingelnberg Sohne of Germany. Aurangabad is also the venue for gear cutting tools & built-up hobs manufacturing units which had collaboration with Klingelnberg Sohne of Germany & the expertise for manufacture or shaving cutters came from M/s Samputensili SpA of Italy.
All the collaborations mentioned above i.e. with Oswald Forst GmbH, W. Forst, Klingelnberg Sohne & Mis. Samputensili SpA has been expired. For brief details of collaborations, please refer the heading 'Collaborations' on page 48 of this Offer Document.
The Comp. has obtained ISO Certification at all its manufacturing locations.
In 1997-98, DFTL has strategically promoted Birla Peruchhini Limited, a joint venture with Kinglor & Fonderia Perucchini of Italy, to manufacture precision molded castings for automobile & engineering industry. This Comp. has financial investment from IL&FS Venture Corporation [IVCs]. This Comp. has its manufacturing unit at Aurangabad & has recently commenced commercial production.
In 2005, the Comp. has set up new Unit No. VI at Gandhidham, Bhuj for manufactures of existing products viz. Broaches, Gear Hobs, Shaving Cutters etc.
Major events in the History of Company:
1965 Incorporation, in Technical Collaboration with Oswald Forst GmbH of Germany
1966 Commenced Production of Broaches which was import substitute in technical collaboration with M/S Oswald Forst GmbH West Germany
1972 Received letter of intent for expansion of capacity from 4800 broaches per annum to 9000 broaches per annum
1972 Received Industrial License to manufacture 20 Broach Sharpening Machines
1974 Set up a new unit at Aurangabad, Maharashtra for manufacture of Broaches
1974 Comp. sold its first broach sharpening machine
1977 Set up one more unit at Aurangabad, for manufacture of Gauges in technical collaboration with M/S W.Forst Engineers limited England & for manufacture of metal slitting saws
1983 The technical collaboration with W. Forst Engineers limited got expired
1985 Comp. came out with first public issue & also acquired Aurangabad unit of Indian tool Manufactures a division of Zenith Steel Pipes and Industries Ltd manufacturing Gear Cutting Tools as a going concern.
1986 New facilities set up at Aurangabad for manufacture of built-in hobs for first time in India with German technology & shaper cutters with Italian technology
1992 Comp. implemented modernisation & renovation programme.
1993 The technical collaboration with Oswald Forst GmbH, Germany got expired
1996 Implemented expansion & modernisation of existing plants
1997 New facilities set up at Aurangabad for manufacture of shaving cutters in collaboration with Samputensili, Italy.
2000 ISO 9001:1994 Certificate awarded for Thane as well as Aurangabad Units.
2003 ISO 9001:2000 Certificate awarded for Thane as well as Aurangabad Units.
2005 The Comp. has set up new Unit No. VI at Gandhidham for manufacture of existing products viz. Broaches, Gear Hobs, Shaving Cutters etc.
2006 The technical & commercial collaboration with Samputensili S.p.a got expired
2007 The Comp. has issued rights in the ratio of 5:7 at a premium of Rs 23 per share.
