1962 - The Comp. was incorporated on 14th September, at Chennai. It
manufactures textile machinery.
1963 - Shares subscribed for in cash by promoters, Directors, their
friends & associates.
1964 - Further 1,221 shares subscribed for by directors etc. 30,000
shares reserved for Rieter Machine Works limited 20,000 shares
reserved for IFCW. 1,00,000 shares offered to public during
1968 - 30,133 shares allotted to technical collaborators [384 in 1965,
16,265 in 1966, 5,000 in 1967 & 5,021 in 1968s].
1971 - Further 10,000 shares issued to the technical collaborators
1979 - 60 forfeited shares reissued at market price.
1980 - Government approved the Company collaboration agreement with
Rieter Machine Works, limited Switzerland for manufacture of
improved & sophisticated ring frame Rieter Model 'G5/1' the
first of which was delivered in November 1982.
- The Comp. also finalised technical collaboration agreements
with Rieter Machine Works, Ltd., Switzerland for manufacture
of open end spinning machines & with Investa Czechoslovakia for
the supply of spinning units.
1981 - 1,52,394 bonus shares issued in prop. 3:5.
1982 - The Government permitted the Comp. to manufacture 150 nos. of
open end spinning machines within the overall licensed capacity
& approved the collaboration agreement with Rieter Machine
Works, limited Switzerland.
- In January the Comp. was granted a letter of intent for the
establishment of pilot mill with 3,000 spindles at its existing
site at Perianaickenpalayam [Coimbatores] for research and
1984 - A letter of intent was received for manufacture of 200 metal
cutting & printing machines at Unit II at Kariyur village.
1986 - The Machine Tool Division which had been recently established,
converted a letter of intent received into an industrial licence
for manufacture of CNC lathes & CNC machinery centres.
Design documents pertaining to the project were received from the
collaborators Movi Seuki Co., limited Japan.
1989 - The Comp. was concentrating on the replacement market as most
of machinery supplied by Comp. in the earlier years
were due for replacement.
- The machine tool division introduced into the market CNC machines
viz. MV-Junior & SL-3 models. The manufacture of other models
was also being taken up.
- The Comp. entered into a collaboration agreement for advance
technology in the manufacture of open end rotors spinning
machines with M/s. Schubert and Salzer, Ingolstadf, West Germany.
This project was under implementation.
- 2,03,192 bonus shares issued in prop. 1:2.
1990 - Government approval was received for Company investment
in the equity capital of Pugoda Textiles Lanka Ltd., Sri Lanka.
1992 - The Comp. jointly with Rieter Machine Works Ltd., Switzerland
[RMWLs] set up a new Comp. under the name of Rieter-LMW
Machinery Ltd., as a 100% export unit for manufacture of G5/3
family ring of frame assemblies for buy-back by RMWL.
1993 - The Comp. established a modern foundry division at Arasur for
manufacture of Grey Iron Castings of grade 20, 25 & 30 using
chemical bonded process for captive requirement & also to meet
the fast growing engineering sector in India & abroad.
1995 - The Comp. had entered into a long-term partnership with Mikron
of Switzerland for manufacture of universal milling and
boring Mikron machines for their world market.
1996 - The Comp. undertook to set up a second unit at Kaniyur village,
23 kilometers from Coimbatore.
- As on 31st March, the Comp. held 45,00,000 No. of equity shares
of Rs 10 each of issue capital of Sri Lanka company.
1997 - 6,09,576 bonus shares issued in prop. 1:1.
- Work at unit II of textile machinery division of Lakshmi
Machine Works Ltd [LMWs], located at Kaniyur near here, has been
hit due to failure of management & the workers to reach a
revised wage accord. The workers had called a strike on
September 15 following failure of Kaniyur LMW Unit Workers &
Staff Union & the management to arrive at a consensus on
revising the previous five year settlement which came to an end.
- In a bid to cut down burgeoning administrative costs, the
textile machinery major, Lakshmi Machine Works Ltd has offered
the voluntary retirement scheme [VRSs] to its employees.
1998 - The new product range introduced by LMW comprises the
high-speed CNC machines in the Pilatus range, high-power CNC
lathe in the Rigi range, vertical machining centres in the Kodi
range, Ooty 40, which is the all-new horizontal machining
centre & a mould-making machine, Kodi Mould 50.
- LMW, which is one of biggest investors in the machine tools
business, especially in the last decade, has so far invested
about Rs.50 crores in updating its manufacturing facilities.
- Sisco is a joint sector Comp. promoted by LMW & Tamilnadu
Industrial Development Corporation [Tidcos] to set up a
- The new machines being introduced includes high speed CNC
machines in the Pilatus range, & machines in the Kodi & Ooty
range. The Comp. bagged the Machinist award for most
innovative display at the recently concluded Imtex 98.
1999 - Lakshmi Machine Works Ltd [LMWs], is one among three companies in
the world to manufacture the entire range of spinning machinery.
- Lakshmi Machine Works Ltd [LMWs], a pioneer in the manufacture of
spinning machinery, has coined a new theme & logo `Spinning
Value', in-addition to its existing logo `goddess Lakshmi' and
the theme, Spinning System.
- The textile show is scheduled between June 1 & 10 at Paris.
Held once every four years at various venues around Europe,
ITMA provides a platform for display of latest products by
major manufacturers the world over. This is the first time that
LMW will be displaying its latest innovations at ITMA.
- LMW was the first Indian Comp. to introduce the automatic bale
plucking machine `Flexifloc' in the blowroom, which surpassed any
other bale plucking machine in the world.
- The Comp. has developed four state-of-the-art machines such as
automatic bale plucking machine Flexifloc, carding machine
LC300A, speed frame LFS 1660, & ring frame XLA30.
- Southern Iron & Steel Comp. Ltd [Siscos], a joint sector
project promoted by Lakshmi Machine Works Ltd [LMWs] & Tamilnadu
Industrial Development Corporation Ltd [Tidcos], mulls setting up
a coke over project near its existing facility to ensure
availability of quality inputs for its steel plant.
- The collaboration agreement between the textile machinery
manufacturing major, Lakshmi Machine Works Ltd [LMWs] & Rieter
Machine Works Ltd, Switzerland [Rieters] has lapsed, following
which the Rieter nominees on the LMW Board have resigned.
- The Comp. proposes to carry on the business of developers,
purchasers, consultants & technical advisors in the field of
computers, computer software, information & management
systems, development & dealing in computer programmes,
application systems, maintenance, software development & to
depute personnel to develop & process software & hardware
& other electronic items in India & abroad.
- Ailing India Precision Bearings [IPBs] is merging with the
country largest textile machinery manufacturer Lakshmi Machine
Works [LMWs], according to top level sources at LMW.
- It has merged India Precision Bearing Manufactures with itself
with effect from April.
- The Comp. was the largest supplier of ring spinning machines in
the world with over 12 millions spindles in operation.
- Textile machinery manufacturing major, Lakshmi Machine Works
Ltd [LMWs] has chosen the International Textile Machinery
Association [ITMAs] textile show as the launch pad for its new
- The leading textile machinery manufacturer in India, Lakshmi
Machine Works [LMWs], has designed & developed new generation
machines for millenium. These machines have been fabricated
through the in-house R&D facilities set to meet international
parameters of end-products.
2000 - The Comp. has launched two CNC machines -- Smarturn & Smash
directly in the market.
-Board approves for acquisition of wholly owned subsidiaries of Comp. - LMW Investments Ltd & Deejay Leasing Comp. Ltd.
-LTE Industries acquires 12000 shares amounting to .984% of LMW Ltd.
-Stocks appreciated by about 65%.
-Charges Rs.8.3 crs for dimunition in the value of investments.
-Offers 1:200 swap ratio or cash option of Rs.10 for each Textool share for its merger with the company.
-Board of Industrial Finance & Reconstruction approves for merger of Textool Comp. with LMW Ltd.