History of Talbros Automotive Components Ltd.
YEAR EVENTS 1956 - The Comp. was incorporated as on 8th September, at New Delhi as a Private limited Co. under the name & style Payen Talbros, Pvt. limited It was converted into a Public limited Co., on 30th November 1975. It manufactures automotive components like jacks, shock absorbers, & axle shafts.
1973 - Till now 62,500 `A' Equity & 1,87,500 `B' Equity shares issued as bonus shares as follows: on 27th May, 1963 prop. 1:2; on 6th August 1966 prop. 2:3; on 26th June 1970 prop. 1:3.
1974 - The Comp. received an industrial licence to expand the capacity of gaskets by 30 million nos. In order to implement Chennai unit, the Comp. undertook to set up a new unit in the SIDCO Industrial Estate at Ambattur, Chennai.
- 25,000 `A' Equity & 75,000 `B' Equity shares allotted as bonus shares on 12th July 1975 both in prop. 1:4.
1977 - AEW Janson, Ltd., a Comp. engaged in the manufacture of hydraulic jakhs & shock absorbers, was amalgamated with the Comp. with effect from 1st September.
- In terms of scheme of amalgamation, members of AEW Janson, Ltd., were allotted 75,358 No. of equity shares of Rs. 10 each of the Comp. without payment in cash besides a cash payment of Rs. 3,525 towards fractional entitlements.
- A and B Equity shares merged. 75,350 shares issued without payment in cash to members of AEW Janson, limited on its merger.
1979 - The name of Comp. was changed to Talbros Automotive Components, limited with effect from 7th April.
1980 - Simultaneously with the public issue of equity shares during May, then existing shareholders offered for sale to the public out of their holdings 60,000 No. of equity shares of Rs. 10 each at a premium of Rs. 6 per share.
- 1,24,642 shares issued [prem. of Rs. 5 per shares]; 9,642 shares reserved & allotted to employees and business associates and 1,15,000 shares offere to the public during May.
1981 - A new project was undertaken for manufacture of industrial gaskets for which SPICOT sanctioned.
1985 - In an agreement between the Comp. & Payen International. Limited U.K. for transfer of technology, became effective.
1986 - The Comp. privately placed with L.I.C. G.I.C. & its subsidiaries 30,000 - 15% redeemable non-convertible debentures of Rs. 100/- each for an aggregate value of Rs. 30 lakhs redeemable in full in 1993 at premium of Rs. 5/- per debenture.
- As on 31st December, land & buildings at Chennai & Faridabad were revalued & the net surplus arising at of it was credited to the Revaluation Reserve.
- According to the scheme of arrangement between the Comp. and Talbros Engineering limited was to be issued to the shareholders of the Talbros Automotive Components Ltd.
1987 - 2,80,000 bonus equity shares issued in prop. 2:5.
1988 - The Comp. registered substantial growth in the production of gaskets & rear axle shafts.
- The Comp. had drawn up plans for second phase of modernisation of existing plants & setting up of new units. Another unit for manufacture of material for captive consumption was being set up at Sohna, near Gurgaon, Haryana.
- 4,20,000 Rights equity shares issued at par in prop. 3:7 during November-December.
1989 - Turnover improved by 25% on an annualised loans exports also reached a record figure.
1994 - 2,42,858 No. of equity shares allotted to Engineering Compondents limited U.K. at a premium of Rs. 83.75 per share in the basis of preferential issue.
2005
-TACL enters into JV with Nippon Leakless of Japan on January 31, 2005
2007
-Talbros Automotive Componets Limited has appointed Mr. Brian Williams as a director on the Board of Company.
2008
-Talbros Automotive Components Ltd has appointed Mr. Amit Burman as independent Director on the Board of Comp. w.e.f. June 25, 2008.
