YEAR EVENTS
1954 - The Comp. was incorporated in 1954 in Chennai. The main
objective of Comp. is to manufacture of valves for internal
combustion engines & ATE valves for Mercedes Benz. The valves
are to be marketed under the trade name 'EVL'.
1973 - The Comp. entered into a technical collaboration agreement with
Kar Valves limited [formerly Cochin State Power and Light Corpn.
Ltd.s], for export of technical know-how & assistance for
the manufacture of valves for internal combustion engines.
- 4,80,000 fully paid Bonus Equity shares issued in the prop. 4:5.
1981 - 5,04,000 Bonus shares issued in prop. 1:2.
1984 - Debentures of aggregate value of Rs. 1 crore were privately
placed with UTI. These debentures were redeemed in five equal
instalments from August 1990 at a premium of 5%.
1986 - 7,56,000 bonus shares issued in prop. 1:2.
1987 - Rane Ceramics Ltd., became a subsidiary of Comp. since 1st
October. The name was changed to Rane Engineering Ceramics Ltd.
- Prewo Pvt. Ltd., & Vispro Foundry Engineers Pvt. Ltd., became
Subsidiaries of Company.
1989 - Cashman Engineers Pvt. Ltd., also became a subsidiary of the
Company. These three subsidiaries were merged into one company
under the name Prewo, Ltd.
1991 - Rane Engineering Ceramics, Ltd., was merged with the Company.
1995 - 2,268,000 Bonus shares issued in prop. 1:1.
1997 - Engine Components Ltd., a subsidiary of Comp. was merged
with the Comp. with effect from April 1, 1998.
- 5,04,000 No. of equity shares of Rs. 10 each at a premium of Rs.
215 per share allotted to TRW Inc., USA.
2000
-Receives the QS 9000 certification from RWTUV, Germany, according to a press release from the company.
2002
-Board decides to close down the Foundry Division at Kandanchavadi, Chennai
-The chennai-based Comp. has been approved by Volkswagen for supply of engine valves, which was released by Comp. recently.
2003
-Rane Engine Valves [ REVLs], the arm of Rane Group, is poised to become the preferred supplier of valve train components for Germany oldest engine maker, Deutz from the current year. REVL had collaborated with Deutz in 1991 & kicked off the first commercial supply of valves in July 1993
-Receives the `Best Supplier Award' from Deutz AG, one of oldest engine manufacturers in Germany.
-Signed a long term contract with Deutz AG, Germany for supply of Engine Valves. The Contract is for a periods of five years
