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History of Timken India Ltd.

1987

- The Comp. was incorporated on 15th June, & obtained the Certificate of Commencement of business on 10th September. The Company manufacture tapered roller bearings & AP cartridge roller bearings. It was promoted by Tata Iron and Steel Co. Ltd., & Timken Co., USA.

- The major portion of plant & machinery comprised imported remanufactured equipment to be supplied by Timken Comp. retrofitted with the state-of-the-art electronic controls, in-process gauging and other proprietary apparatus.

- The Comp. entered into a technical & financial collaboration with Timken Company, USA for technical information, material specification and other documentation pertaining to manufacture of tapered roller bearings & AP cartridge roller bearings.

- The Comp. was given a licence to market, sell & service the Timken Company products produced in other countries, in India, Sri Lanka, Nepal Bhutan & Bangladesh.

1991

- The Comp. issued 13,00,000-12.5% secured partly convertible debentures of Rs 150 each of which 65,000 debentures were reserved for allotment on a preferential basis to employees [including Indian working directorss]/workers of Comp. & those of promoter companies [all were taken ups]. The remaining 12,35,000 debentures were offered to the public [all were taken ups].

- Rs 50 of face value of each debenture was converted into 5 No. of equity shares of Rs 10 each on 4th November. Accordingly 65,00,000 No. of shares were allotted Rs.100 of face value of each debenture was to be redeemed at par on the expiry of 8 years from the date of allotment of debentures.

- 7 No. of equity shares subscribed for by signatories to the Memorandum of Association. 359,99,993 No. of equity shares, then issued at par of which the following were reserved for allotment; [is] 170,00,000 shares to Timken Co., USA & [iis] 169,99,993 shares to TISCO. Of the remaining 20,00,000 shares, 18,00,000 shares reserved for allotment on a preferential basis to employees [including Indian working directorss]/workers of Comp. as also promoter companies. Balance 2,00,000 shares were offered for public subscription during May.

1993

- Due to lack of order from the railways production of AP cartridge bearings reduced to 18,887 nos.

- 21,250,000 shares offered to the existing shareholders on right basis in prop. 1:2. Out of which 17,200 shares held in abeyance, 3,160 shares couldn't be allotted due to stock invest lost in transit, 267,529 shares yet to be allotted.

1994

- Production of AP cartridge bearings reduced to 337 nos. due to lack of orders from Railways.

- The Comp. issued 26,00,000-9% cumulative redeemable preference shares of Rs 100 each on private placement basis to meet the working capital requirements.

- 2,70,689 shares allotted on April 1994. 1,350 shares allotted out of shares kept in abeyance. Preference shares allotted to the promoters on private placement basis.

1995

- The Comp. has issued 26,00,000 9% Cumulative Redeemable Preference Shares of Rs. 100/- each to The Tata Iron and Steel Co. limited [13,00,000 sharess] & The Timken Company, USA [13,00,000 sharess] on 14 March. The Preference Shares shall be redeemed at the expiry of 10 years from the date of allotment with an option to the Comp. to redeem the same earlier after giving one month notice.

1996

- 700 No. of Equity shares allotted out of shares kept in abeyance.

- During the year Mr. J. H. Mayer had resigned as Managing Director and in his place Mr. Gordon William Robinson has been appointed by the Board.

1997

- The Comp. undertook a project to complete indigenisation of A P Bearing components.

1998

- The Comp. feels proud of Railway business team who won The Timken Company coveted award of 'Dedication to Excellence'. This award is given to one team worldwide as recognition of dedication to achieve excellence leading to outstanding customer satisfaction and shareholder value.

- As part of constant endeavour of Comp. to improve the environment & maintain clean Steel City, the Comp. had installed a Pilot Membrane System for treatment of oily waste fluid.

1999

- As per terms of issue, the entire outstanding amount of the Non-Convertible part of 1300000 12.5% Secured Redeemable Non-Convertible Debentures of Rs. 100/- each [the Debenturess] have been redeemed on 4th November, 1999.

- Consequent to the approval of Members accorded at the Extra Ordinary General Meeting held on 31st May, the name of Comp. has been changed from Tata Timken Limited to Timken India Limited with the requisite approval of Central Government with effect from 2nd July.

- The Comp. launched a tactic to achieve QS 9000 Certification to further upgrade the quality systems.

- Another Project initiated by Comp. for indigenisation of Rail Road Bearing had successfully been completed. The project has been completed ahead of schedule & within the budget.

- Mr. Vinod Kumar Dasari has been appointed as the Managing Director of the Comp. with effect from 1st January, consequent to the resignation of Mr. Gordon William Robinson [Mr. Robinsons] as the Managing Director of the Comp. with effect from the said date.

- Dr. J J Irani has recently stepped down as the Chairman of Board and the Board, at its meeting held on 13th April. - Mr. Shyamal Kumar Sinha, Director [Finance and Systemss] has been appointed as an Alternate Director to Mr. Jon T Elsasser effective 13th April, 1999.

2000

- ICRA has assigned an A1+ rating to the enhanced Rs 15 crore Commercial Paper programme of company.

- The Comp. achieved certification from American Association of Railroad [AARs]. This would help the Comp. in quick acceptance of its products in USA without testing. The Comp. is the first Comp. in India to achieve Certification from AAR.

- The Comp. issued 13% Unsecured Redeemable Non-Convertible Debentures for a sum of Rs. 2 Crores redeemable in 18 months on private placement basis with ABN Amro Bank after complying with all the necessary formalities.

- Mr. Vinod Ku mar Dasari who was appointed as the Managing Director of the Comp. has resigned with effect from 8th April. Mr. Charles Joseph DeVirgilio, has been appointed by Board as an Additional Director & also as Managing Director of Comp. with effect from the conclusion of Board Meeting held on 8th April.

- Mr. Joseph F Toot, Jr. has resigned as a Director of Comp. and in the casual vacancy created by such resignation, the Board has appointed Mr. Scott A Scherff as a Director of Company. The

2002

-Mr Mantosh Sondhi, director of Comp. expired on Oct 29th.

2003

-Reports a 81% increase in its second quarter net profit over the last year.

2004

-Timkin, the alloy steel & bearing Comp. opened its second biggest research & development centre in the world near Bangalore. Timken Engineering & Research India is a wholly owned subsidiary of Timken India in which Timken holds 80 per cent stake; the rest is with the public.

2005

-Indian Oil has inked a MoU with Timken India Ltd to manufacture & market 'Timken Premium Automotive Grease' in the country.