YEAR EVENTS
1983 - The Comp. was Incorporated on 2nd September, at Kanpur. The
Comp. was promoted jointly by Indian Reprographic Systems Pvt.
Ltd., Modi Rubber Ltd., & others in technical & financial
collaboration with Rank Xerox Ltd., U.K. The Comp. Manufacture
xerographic equipment & systems, toners & developers.
- The Comp. entered into a technical & financial collaboration
agreement with Rank Xerox Ltd., U.K. Under the agreements, Rank
Xerox was to provide the technical know-how for design,
engineering, erection, commission, operation & maintenance of
plant & process equipments.
- It was also to assist the Comp. in arranging procurement and
fabrication of equipments & materials, development of vendors
including ancillary small scale vendors & procurement of plant
& machinery from sources outside India.
1984 - 700 shares subscribed for by signatories to the Memorandum of
Association. 99,99,300 No. of Equity shares issued at par:
40,00,000 shares to Rank Xerox, Ltd., U.K., 39,99,300 shares to
Modi Rubber Ltd., Indian Reprographic Systems Pvt. limited and
others were reserved & allotted & 20,00,000 shares offered
for public subscription in Sept. 1984.
1985 - 24,80,000 Rights Equity shares issued at par in prop. 31:125 in
October.
1987 - Two upgraded versions of 1025 series - the 1025 zoom & zoom
SADH were launched from the Rampur plant.
- 49,92,000 Rights Equity shares issued at par in prop. 2:5.
1988 - India first engineering plant printer-2510 & a programmable
desktop copier - 1038 were launched. To get incremental
business, `Xerolease' a new easy leasing scheme was introduced.
The paper range was expanded to include polyester film, tracing
paper & telecopier paper for use in fascimile machines. MX
business paper was launched.
- The Comp. with the support of Rank Xerox developed a coating
formula for Japanese 1025 model photoreceptors. The Company
proposed to introduce statistical process control [SPCs], an
on-line quality control method where the manufacturing process
gets analysed statistically to set process parameters.
- During the period, Rank Xerox signed an agreement with the
Comp. to source 1025 & 1038 model copiers on an ongoing
basis.
- 19,94,000 No. of Equity shares allotted to financial institutions
in conversion of loans.
1993 - The Comp. introduced Xerox Majestik series colour copier and
printer, inkjet technology which offer laser-like quality at
affordable prices & fine new models in fax machines.
1994 - 17 new products were added to its already existing wide range
with an increasing focus on digital technology, networking
capability & superior colour fidelity.
1996 - The Comp. enhanced desktop printer range with the addition of
5 new inkjet, laser & colour printers.
- The Xerox 4230, 4230 MICR & 4850 Digital Printing Systems were
launched during the year.
- DocuColor 40, the world fatest stand alone digital colour
document system was also launched which additionally offers
automatic duplex printing capability both from hard copies as
well as from electronic files. 20 new products were launched
during the year.
1997 - The Comp. made its product range more comprehensive with
copiers ranging from 37 to 45 CPM in the work Group segment and
from 55 to 80 CPM in Departmental copier range. The Xerox 5051
& Xerox 5352 were added to the cruiser family.
- Six new paper brands were launched including performance unicopy
& challenger at the low end & the MX 80 for inkjet and
laser printing.
1998 - The Comp. introduced 15 new products including network printers
& also expanded its retail network to 273 outlets across 9
metros. The Bueno range of convenience copiers was launched as a
replacement for Modi Xerox 1025.
- MXL is a joint venture in technical & financial collaboration
with Xerox Corp.
- Modi Xerox limited [MXLs] has introduced a high-end network laster
printer -- the DocuPrint N32 -- in India following its
worldwide launch by Xerox Corporation in the last quarter of
1997.
- MXL also recently introduced DocuPrint C55, which has a high
end, state-of-the-art full colour network laser printer with
Contone printing facility [a feature which allows superior
colour reproductions].
- The introduction of DocuPrint N32 reflects the commitment
of Xerox to transform Modi Xerox from being a copier Comp. to
a true Document Comp. in India.
- Modi Xerox has entered into a strategic alliance with TechNova
Imaging Systems to cater to the graphic arts segment in the
country.
- Modi Xerox has launched Docuprint N40, the world fastest
network printer with a print speed of 40 pages per minute.
- The Foreign Investment Promotion Board [FIPBs] today cleared the
proposed wholly-owned subsidiary of US-based Xerox
Corporation for investing in the company other ventures in
the country.
1999 - The foreign promoter has stated that it plans to introduce
state-of-art technology including digital, colour & networked
services through Modi Xerox.
- Modi Xerox is a joint venture between the US-based Xerox
Corporation & Modi Corp.
- Modi Xerox has been mulling fresh investments in setting up a
second line to manufacture its new range of digital products at
the same facility & a decision to this effect is likely to
result from the visit.
- Modi Xerox & Modi Xerox Financial Services limited would be
amalgamated into Xerox ModiCorp Ltd [XMLs], the unlisted joint
venture company.
- The Comp. changed its, name from Indian Xerographic Systems
limited which was also approved by FIPB.
2003
- The Foreign Investment Promotion Board [FIPBs] allowed Xerox Modicorp to sell directly to industrial & government customers.
