History of Tata Metaliks Ltd.
YEAR EVENTS 1990 - The Comp. was incorporated on 10th October, under the name of Tata Korf Metals West Bengal limited & obtained certificate for commencement of business on 14th December. It was promoted by TISCO.
- The main objective of Comp. is to manufacture foundry grade pig iron.
- The Comp. undertook to set up a new mini blast furnace of 215CuM working volume with associated systems for manufacture of 90,000 tpa of foundry grade pig iron.
- The Comp. entered into an arrangement with Tata Korf Services limited for technical knowhow & consultancy services for the project. The agreement guarantees production of hot metal at 265 tonnes a day.
- Another agreement was entered into with M/s. CESCON Ltd., for consultancy on captive power plant & M/s. United Consultants India limited for overall civil construction & structural work. The plant & machinery comprising gas cleaning plant, blast preheaters, pig casting machines etc., were procured indigenously.
1992 - The name of Comp. was subsequently changed to Tata Metaliks limited with effect from 16th January.
1993 - The Comp. issued through a prospectus 23,22,000-14% partly convertible debentures of Rs 125 each of which 1,60,000 debentures were reserved & allotted on a firm basis to IDBI. Of the remaining, the following were reserved for allottment:
- [1s] 1,61,100 debentures for employees/workers of TISCO,
- [2s] 2,16,200 debentures to resident Indian shareholders of TISCO. Balance 18,29,700 debentures were issued to the public.
- Part A of Rs 40 of face value of each debenture was converted into 4 No. of equity shares of Rs 10 each on allottment of debentures.
- Part B of Rs 85 of face value of each debenture was to be redeemed at par in three equal instalments of Rs 28, Rs 28 & Rs 29 at the end of 7th, 8th & 9th year respectively from the date of allottment of debentures.
1995 - 8 No. of equity shares of Rs 10 each issued, subscribed and paid-up. During May 1993, the Comp. issued through prospectus 159,99,992 No. of equity shares of Rs 10 each along with partly convertible debentures. The following equity shares were reserved for allotment on a firm basis:
- [is] 117,99,992 shares to TISCO.
- [iis] 5,00,000 shares to WBIDC.
- [iiis] 5,00,000 shares to directors & associates.
- Of the remaining 15,000 shares were reserved for allotment on a preferential basis to employees. Balance 31,85,000 shares were issued to the public. 92,88,000 No. of equity shares allotted on conversion of debentures.
1996 - The Comp. is aware of its social responsibilities in protecting the Environment in & around its factory. Pollutants emitted by the plant are monitored & controlled within the limits stipulated by West Bengal Pollution Control Board.
- The Comp. agreed & has constructed a metalled link Road from National Highway 6 to the factory at Gokulpur as a goodwill gesture with a view to improve infrastructural development of the region.
1997 - Tata Metaliks [TMLs], a Tata group Comp. promoted by Tata Steel & the West Bengal Industrial Development Corporation, is scouting for a foreign technology partner for a foray into the iron castings business.
- Tata Metaliks Ltd [TMLs] will set up an iron foundry for manufacturing axles for automobiles.
1998 - Tata Metaliks Limited engaged in manufacturing high-quality pig iron, has been awarded ISO-9002 certificate by IRQS, an agency accredited by RVC Dutch Council.
- The company, with an installed capacity of 90,000 tonnes per annum of foundry grade pig iron, is currently operating at a capacity utilisation of 110 per cent.
- The Comp. won the first prize in the Indian Institute of Metals' National Quality Competition in the category of Pig-Iron Plants/Direct Reduction units/Re-rolling mills for year 1997-98. 1999 - The Company environmental policy was formulated during the year & its waste water discharge was brought down to zero level. The Comp. had set itself the target of achieving the ISO 14001 certification for its environmental management system and received the certificate from Det Norske Veritas of Rotterdam, Netherlands.
2000
- Tisgroup company, completed its re-lining & capacity enhancement programme & puts back in operation its mini blast furnace after 33 days of shutdown.
-Harsh Jha executive-in-charge bearings division at Kharagpur as the company new managing director
2001
- ICRA has upgraded the Rs 19.74 crore debenture issue of Tata Metalliks Ltd [TMLs] to `LBBB+' from `LBBB'
2003
-Completed the first phase of its capacity enhancement programme from 130000 tpa to 140000 tpa of hot metal stands through technological upgradation by installing Linear type Pig Casting Machine.
-Board Approves the proposal project of setting up of 2nd MBF with a capacity of 100000 tpa adjacent to its plant at Kharagpur with a estimated cpst of Rs 400 million.
- M/s Patton Limited, Kolkata, acting in concert with its associated has acquired shares/voting rights of Comp. of more than 5% as on September 23, 2003
2007
- Tata Metaliks Ltd has inked a joint venture pact with Kubota Corporation & Metal One Corporation, both of Japan, for establishing a 1.1-lakh tonnes per annum capacity ductile iron pipe manufacturing plant at Kharagpur in West Bengal at an estimated investment of Rs 150 crore.
2008
-Tata Metaliks Ltd has appointed Mr. V S N Murty as an Additional Director on the Board of Directors of Comp. at the Board Meeting of Comp. held on March 28, 2008.
- Tata Metaliks has got a prospecting licence for iron ore mining in Maharashtra. The Comp. will start prospecting work within the next three months. The iron ore procured from the mine could be utilized for its proposed steel unit in Karnataka. The Comp. has also got sanction for 700 acres of land for setting up a steel plant in Karnataka.
