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History of Technocraft Industries [Indias] Ltd.

Technocraft was established in 1972 by two brothers Mr. S.K. Saraf & Mr. S.M. Saraf. The brothers, who are IIT Graduates and Technologists, had started with the aim of manufacturing high precision & sophisticated Drum Closures Products. Until 1976 Technocraft focused on the domestic market. India was not recognized as reliable export nation during those days, against all the odds, the Comp. launched a major export drive in 1977. 'Technocraft' was recognised as an export house by government of India in 1979. 'Technocraft' initially captured the Middle East export market. Gradually Technocraft moved to USA & Europe. Since customers in USA & Europe were used to buy Drum Closures from the Company's competitors based in Europe & USA, on a very short notice, Technocraft established several foreign subsidiary companies for facilitation of stock flow to their customers in Europe & USA.

At the initial stages the group strengths were in manufacturing of Drum closures. From inception till 1994, Technocraft continued developing & increasing the production of Drum Closures until it became one of largest & most recognized suppliers of Drum Closures in the world. The Comp. subsequently in 1994 acquired a sick unit 'Maharashtra Steel Tubes Ltd' from SICOM, which was into the manufacture of Steel Pipes. The initial production in the early years post acquisition was 500 metric ton per month & in those days Europe was a major importer of steel pipe. Technocraft opened an office in United Kingdom [UKs] so as to tap into the European market. This was the turning point in its expansion program.

In 1997, Technocraft diversified into manufacturing of Cotton Yarn. The Unit was accorded a 100% EOU status. The cotton yarn division is into Manufacturing and Exporting of high quality 100% Cotton Ring Spun Yarn. From NE 20 to NE 40, The spinning mill is equipped with world class Swiss, Japanese & other equipment. The cotton yarn division employs highly trained technical experts in all aspects of yarn spinning. It also has a Captive power generation plant in the yarn division to cater to its power requirements.

Technocraft as a group has been a predominant player in the precision engineering sector and it has done a forward integration of Tube Division by producing high precision scaffolding systems for building construction.The cotton yarn division has also forward integrated its operations by production and export of Garments through its subsidiary. Technocraft has been constantly upgrading its capacity & improving its standards to meet the ever increasing expectations of its customers. The strategy adopted by Comp. comprises of growth through constant innovation, enter new categories, & focus both on domestic as well as foreign markets.

Major events in the history of Company

Year Events/Milestones/ Achievements

1993 Set up of its first Foreign subsidiary in United Kingdom 1994 Merger of Technocraft Fabricators [Bombays] Limited & Eskiedee Metal Crafts Private Limited 1994 Acquisition of Maharashtra Steel Tubes Limited - Pipe Division 1997 Setting up of 100% EOU Yarn Unit 1998 Setup Subsidiary in Poland 2000 Setup Subsidiary in Hungary 2000 Awarded the National Award for Export Excellence by Ministry of Commerce & Industry, Award Presented by then Prime Minister of India 2001 Awarded Export Excellence Award for all steel products by Engineering Export Promotion Council - Maharashtra 2003 Setting up of Subsidiary Comp. Danube Fashions Limited 2004 Awarded 3 Star Export House Certificate Achieved the Export Targets set by Government of India in the yarn Division under the target Plus Scheme 2005 Setup a Subsidiary in Germany Launched Haute Chilli Brand in India Achieved the export targets set by Government of India in the yarn Division 2nd year straight 2006 Setup a Subsidiary in Australia

2007 Technocraft Industries India Ltd has informed that Mr. N M Mhatre, has been appointed Additional Director of Comp. & consequently he become the Whole Time Director of Comp. with effect from November 01, 2007 at the meeting of Board of Director held on October 31, 2007.