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History of Patels Airtemp [Indias] Ltd.

Patel Airtemp India limited was promoted by shri Narayanbhai G. Patel and associates who have been in the business of design & fabrication of process equipment & engineering goods. The company was incorporated on august 28, 1992 under the companies act, 1956 mainly with the object of taking over two of 8 existing units of group in order to create a harmony in the group product range & to avoid competition among the group companies. These two existing profit making companies viz., M/s Patel Airtemp Private limited & M/s Gujarat Patcon Pvt. limited have been merged into Patels Airtemp [Indias] limited The company set up a new fully equipped plant as unit No.3 of Comp. at Village Santej, Mehsana District [state notified backward areas] near Ahmedabad.

The group promoted by Shri N.G.Patel & associates, earlier comprised of eight concerns which were engaged in the fabrication/manufacruging of engineering components & products. The existing product range of the group includes heat exchangers, shell & tube water cooled condensers, air conditioning & regreration & process cooling equipment industrial fans & blowers, axial flow fans, heavy duty compressors, fans coil units & air handing units.

During 1996-97, The Comp. embarked upon an expansion cum diversification project by setting up unit no. 4 of Comp. which is adjacent to the unit 3 located at Rakanpur. The Comp. has acquired technology from M/s Tek-fins, USA & the project is already in the pipeline. Total cost of project is Rs 1150 lakhs.

2005

-Delistes shares of Comp. voluntarily from The Stock Exchange, Ahmedabad [ASEs] w.e.f. February 28, 2005