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History of Roplas India Ltd.

YEAR EVENTS 1965 - The Comp. was incorporated in 27th October, as a Private Limited Company. It became a public limited Comp. on 8th July 1966. The Comp. has been promoted by Mahindra and Mahindra Ltd. Mumbai & Rubery Owen and Comp. Ltd., U.K.

- The main object of Comp. is to manufacture fibreglass & hessian reinforced plastic products.

- 10 year technical collaboration agreement was entered into with Rubery Own and Co., U.K. This technical collaboration had since expired.

1972 - 6,202 shares issued without payment in cash.

1979 - The Comp. undertook to implement a sheet metal compound project [CMCs] which incorporates mechanised processes & new products.

- 71,940 shares issued at a prem. of Rs. 2.50 per share through a prospectus dated 23rd April; 15,176 shares offered as rights to shareholders other than Mahindra and Mahindra Ltd., Dr. Beck and Co. [Is] limited & Rubery Own Holding limited in prop. 1:1 & 56,764 shares offered for public subscription during May/June.

1981 - The Comp. received a letter of intent for manufacture of sheet moulding compound [SMCs] & dough moulding compound [DMCs] & moulded components. For this purpose a new Comp. under the name & style Siro Plast, limited was set up. Siro Plast, Ltd. took steps to make a public issue of equity shares shortly.

1983 - The facilities of SMC division were further augmented with the addition of two more presses.

- 1,20,000 right equity shares issued in prop. 1:1 at a premium of Rs. 8.

1985 - Know-how documents were received from the foreign collaborators, Mezolit & steps were taken to commence construction of the factory building.

1986 - The working results were adversely affected due to recessionary trend that prevailed in the automobile industry & hike in excise duty in the finished products.

- As a result of research & development activities, two new models of FRP bodies on jeeps were developed.

- 2,40,000 bonus equity shares issued in prop. 1:1.

1987 - A 95 year lease agreement with SICOM in respect of land was finalised. The imported `System Menzohit' machine alongwith pumping station arrived at the factory site & installation of the machinery was in progress. The plant was expected to on stream in July.

1992 - Apart from two jeep bodies called 'Harider Junior' & 'Classic' suitable for Commander 650 D1 & Commander 750 DP were developed.

- Two different types of hard tops for Tatamobile Pick-up were developed.

1993 - The Comp. has an R and D unit which is proposed by Department of Scientific & Industrial Research Ministry of Science & Technology Government of India.

- The Comp. has developed & installed a water leakage test rig as per IS 11865 for checking the leakage in jeep bodies.

1994 - Sales dropped due to reduced off take by company major OE customer during the first half of year resulting in substantial erosion in profitability. The Comp. imported equipment for resin transfer moulding process & carried out development work.

1995 - The Company products viz FRP jeep bodies & automotive components were fitted on some of vehicles exported by Mahindra and Mahindra Ltd.

- During the year under review, Comp. imported equipment for Resin Transfer Moulding process [RTMs] & carried out development work.

- After Expiry of earlier wage agreement on 30.9.93 a new productivity linked agreement was signed with the unionized category workmen on 17.12.94.

- Mr.J.B. Bowman, Mr.A.K. Khan & Mr.R.K. Kulkarni retire by rotation & being eligible offer themselves for reappointment.

- As a part of its financial restructuring, Siro Plast Limited has completed an issue of rights shares in the ratio of one share for every two shares held.

- The Comp. acquired know-how of Resin Transfer Moulding from a Comp. based in U.K. & applied the knowledge to manufacture some of automotive component hitherto made by hand lay-up process.

1997 - Comp. has diversified from existing automobile Jeep bodies & Modular Housing to other areas & earmarked windmill parts, other OEM Business and Cellular Phone Shelters.

- Mr. A. D. Owen, Mr. I. A. Sampat & Mr. R. K. Kulkarni retire by rotation & being eligible offer themselves for reappointment.

- Mr. A. K. Khan, Managing Director, retired from the services of Comp. on 23rd September, 1996.

1998 - Mr. B.M. Kataria, Mr. A.E. Durante & Mr J.B. Bowman retire by rotation at the ensuing Annual General Meeting & being eligible offer themselves for re-election.

1999 - Mr.S.J.Marshall, Dr.B.H.Wadia & Mr.R.K.Kulkarni retire by rotation at the ensuing Annual General Meeting & being eligible offer themselves for re-election.

2000 - The Comp. has made a proposal to all its 259 workmen at its Pimpri factory for voluntary retirement.