History of Organic Coatings Ltd.

YEAR EVENTS 1959 - Snowcem India Ltd., was incorporated on 28th January as a Private Limited Company, promoted by Killick Industries limited & Mr. Geoffrey P. Stevens. Subsequently it became a deemed Public Limited Comp. on 28.3.1961 under Section 43[As] of Companies Act, 1956. Mr. Geoffrey P. Stevens sold his holdings to George Lillington and Co. Ltd., U.K. in April 1965 & Killick Industries Ltd sold its holdings to Kosha Investments limited in 1988.

1988 - The Comp. set up a modern manufacturing facility at Gotan, in Rajasthan, right in the heart of white cement manufacturing region.

- The Comp. set up its third manufacturing facility at Gummidipundi near Chennai. This plant manufactures Sandtex Matt as well as the copolymer resin base which is an import substitute.

- The Comp. is presently engaged in manufacture of cement paint in powder & liquid forms at its factory Chandivali [Cs], Mumbai, Maharashtra, Powder products at Gotan [G1s], Rajasthan & liquid paints & resins at Gummidipundi [G2s], Tamil Nadu with installed capacity as under on single shift basis, 300 working days a year.

1992 - The Comp. was converted into a Public Limited Comp. by a resolution passed in the Extra Ordinary General Meeting held on 18th March.

- The Comp. started its manufacturing activities at its plant in Mumbai with Snowcem cement paint. Snowcem India manufactured & introduced waterproof cement paint for the first time in India & ever since then it has remained the market leader.

- The Comp. also introduced Impermo - a cement waterproofing compound in its early years. During the period between 1963 & 1969, more speciality products, namely Hardcrete, Cemprover, Cemix, Snowfilla & Snowsol were successfully introduced by the Company.

1996 - The Comp. made a Public Issue of 25,00,000 No. of Equity Shares of Rs. 10/- each for cash at a premium of Rs.20/- per share.

- The Comp. has entered into technical collaboration with M/S. Naigai Ink Manufacturing Co. limited Osaka, Japan [NIKs] The agreement was signed on 12th August, 1995.

- The Comp. introduced in the market Water Based Inks & Varnishes, in the category of In-line coating, Off-line coating, Duct coating and Dry Offset coating.

- The Comp. have launched Ultra Violet [UV Inks & Varnishess] in the Gravure, Flexographic Silk Screen & Offset, methods which have applications in packaging and printing industries.

- The Comp. also launched Resins for Printing Ink Industry & the same have been well received in the market.

- The Comp. has also signed a 3-year agreement with the representative Union which is valid upto 31.3.1999.

1997 - Nik Rich Colour [Process Colour Inkss] were introduced.

- Shri A.N. Patil, Shri A.R. Shah & Shri M.V. Mehta retire as Director.

1998 - The most important development during the year under review was the ban imposed by Central Government on sale of scratchable lotteries.

- The Company Operations was due to ban on scratchable lotteries by the Central Government during the year substantially affecting the Company's sales of UV Inks.

1999 - As the Company Solvent Inks Division was not giving profits & was a drag on its operations, the Board decided to close down the Solvent Inks Division & to concentrate on UV Inks & Water Based Inks & Varnishes.

- During the year the Comp. achieved ISO 9001 Certification from TUV CERT certification Body of Rheinisch-Westfalischer for Total Quality Management.

- During the year, a three year wage agreement was signed with the Workers' Union covering wages, bonus & other allowances.

2000 - The Comp. has entered into a joint venture agreement with Rainbow Inks Industries, a firm registered & governed under laws of Nepal.