History of Fiberweb [Indias] Ltd.

YEAR EVENTS 1985 - PVD Plast Mould Industries limited was established. It was a ailing Partnership firm managed by Kanakias & it was acquired by Pravin Seth.

- The Comp. engaged in the manufacture of plastic extruded, injection, and blow-moulded containers, Jerry Cans etc.

- The Comp. proposes to modernise & diversify its manufacturing activities into laminated sheets, flexible tubes & spunbound non-woven products at Daman.

1992 - The Comp. has allotted & despathed by Rgd. Post, 10,00,000 Equity Shares of Rs. 10/- each aggregating Rs. 1,00,00,000/- as BONUS SHARES on 12th December, in the ratio of two fully paid equity shares for every five shares held.

- To diversify its activities, the Comp. proposes to set-up a new project at Daman for the manufacture of multilayer, metalised, coated/laminated & printed film & paper for packaging industry.

1993 - Production was marginally affected by shift of plant from Vapi to the new site in Daman.

- The Comp. has allotted 35,00,000 No. of equity shares of Rs.10 each at a premium of Rs.15 per share aggregating to Rs.8.75 crores as Rights shares.

1994 - During the year the Comp. has privately placed 40 Lakhs No. of Equity Shares of Rs. 10/- at a premium of Rs. 20/- per share aggregating to Rs. 12 Crores to institutions, & other bodies Corporate.

- During the year under review, the Comp. had established a 100% E.O.U. for packaging products like Garbage & Carrier Bags.

- Mr. V.G. Rajadhyaksha, Mr. Vijay K. Sheth & Mr. Bhavesh P. Sheth - Directors retires by rotation & are eligible for re-appointment.

1995 - The profitability in the operations was adversely affected during the year due to increase in the cost of raw materials, especially, the polymers which are being used in bulk quantities, severe liquidity crunch in the financial market since September, & paucity of demand for certain products of Company.

1996 - Mr. Gopal G. Rana & Mr. J.C. Shah retire by rotation & are eligible for re-appointment.

- During the year, Mr. Pravin V. Sheth was appointed as Chairman and Managing Director of Comp. w.e.f. 1st April.

1997 - One of units of Comp. manufacturing blow moulded, roto moulded & injection moulded products was closed down during the year due to extreme liquidity problem.

1999 - During the year Mr. H. K. Vithalani, Mr. B. P Sheth & Mr. B. Gopalkrishnan [UTI Nominees] have resigned from the Board in view of their preoccupations.

2007

-Fiberweb India Ltd has appointed Mr. D V Naik as an Additional Director of Comp. with effect from March 12, 2007.