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History of Rexnord Electronics & Controls Ltd.

Rexnord Electronics & Controls Limited was incorporated as a Private Limited Comp. on the 4th July 1988 under the name & style of Rexnord Electronics & Controls Private Limited and, later, converted into a Public Limited Company, pursuant to the provisions of Section 23 of Companies Act 1956 by passing a Special Resolution in the Extra-Ordinary General Meeting held on the 8th March 1994. The Comp. obtained a fresh Certificate for change of name, on conversion, on the 15th April 1994 from the Registrar of Companies, Maharashtra, at Bombay.

The Comp. was set up in 1988 & was initially engaged in assembly of instrument cooling fans by importing the kits in complete knock-down condition. In the year 1992, the Comp. entered into a Technical Collaboration with M/s Sun Elect Trading Co. Ltd [Taiwans] for manufacture of AC fans & M/s Micron A. Engineering Co. [South Koreas] for manufacture of DC fans. The Comp. commenced the regular in-house production of AC fans & DC fans from basic raw materials in August 1993 & February 1994 respectively.

The Comp. has expanded its production facilities at the existing site from 1 lac of AC fans & 2 lac of DC fans to 3 lac of AC fans & 7.62 lac of DC fans per annum. The required items of machines & moulds have been sourced through the Company Technical Collaborators. The cost of the ongoing expansion is Rs. 208 lacs, which is financed by Equity Capital of Rs. 50 lacs, internal accruals of Rs. 8 lacs & interest-free loan of Rs. 5 lacs & a Term Loan of Rs. 145 lacs from SICOM under the Equipment Refinance Scheme.

The Comp. proposes to further expand its productions facilities at a new site in TTC Industrial Area [Electronic Zones], New Bombay. This expansion at the new site is the proposed project of Company.