AIA Engineering Share price

HISTORY AND CORPORATE STRUCTUREOverviewOur Company was incorporated on March 11 1991 as Magotteaux (India) Pvt Ltd. On November 4 1978 Ahmedabad Induction Alloys Pvt Ltd promoted by Mr Bhadresh K Shah was incorporated. This company was merged with our company on April 1 1991 vide High Court order dated April 30 1992 approving the scheme of amalgamation of the two companies.. The assets and liabilities of the transferor company were acquired by our Company and consideration was paid in the form of 1158300 equity shares of face value Rs 10 each and 119340 Cumulative Redeemable Preference Shares of Rs 100 each of our company. The name of our comany was changed to AIA Magotteaux Pvtto the erstwhile shareholders of Ahmedabad Induction Alloys Pvt. Ltd Ltd with effect from May 11 1992. Thereafter we became a deemed public company (under section 43A of The Companies Act1956) and the word Private was deleted on November 30 1992. Subsequently the name of our company was changed to AIA Engineering Ltd on May 2 2000 and the word Magotteaux was removed on account of termination of joint venture with Magotteaux International S.A. Belgium. Consequent toomission of the provision regarding deemed public companies (Sec 43A) from the Companies Act 1956 our company was converted to a private company and the name Private was added to our name with effect from March 1 2001. AIA Exports Pvt. Ltd. was merged with our Company with effect fromApril 1 2002 vide High Court order dated September 26 2003. Our company was converted to a public limited company on March 30 2005.The administration design planning purchase and other related activities are carried out from the registered office of our Company at Ahmedabad. The manufacturing activities are carried out in thefactories located on our units in the GVMM Estate Ahmedabad.The table below shows the changes in the Name Clause of our Companysince incorporation:Date Type of change/Reasons for changeMay 11 1992 The name of our company was changed to AIA Magotteaux Pvt Ltd after the amalgamation of Ahmedabad Induction Alloys Pvt Ltd with our company November 30 The word private was deleted (under section 43A of The1992 Companies Act 1956) and we became a deemed public company.May 2 2000 Our name was changed to AIA Engineering Ltd after the termination of the joint venture with Magotteaux International S.A. BelgiumMarch 1 2001 Our company was converted to a private company due to the omission of the provision regarding deemed public companies (Sec 43A) from the Companies Act 1956.March 30 2005 Our company was converted to a public limited company.The table below shows the changes in the Registered office of ourCompany since incorporation:Previous Address New Address Date of Change235/236 G.V.M.M Estate 115 G.V.M.M Estate January 25 1994Odhav Road Odhav RoadAhmedabad - 382410 Ahmedabad - 382410Reason for Change Improvement in generaladministration of our CompanyFollowing are the amendments in the Memorandum of Association of ourCompany along with the details:Date of Amendment Details of AmendmentFebruary 3 1992 Increase in Authorised Share Capital u/s 94(1)(a) from Rs 2.5 mn to Rs. 40 mn May 11 1992 The name of our company was changed to AIA Magotteaux Pvt Ltd after the amalgamation of Ahmedabad Induction Alloys Pvt Ltd with our companyNovember 30 1992 The word private was deleted (under section 43A of The Companies Act 1956) and we became a deemed public company.December 11 1993 Increase in Authorised Share Capital u/s 94(1)(a) from Rs. 40 mn to Rs.80 mn. January 25 1994 Change of registered office of our Company.May 2 2000 Our name was changed to AIA Engineering Ltd after the termination of the joint venture with Magotteaux International S.A. BelgiumMarch 1 2001 Our company was converted to a private company due to the omission of the provision regarding deemed public companies (Sec 43A) from the Companies Act 1956. January 22 2002 Increase in Authorised Share Capital u/s 94(1)(a) from Rs. 80 mn to Rs.460 mn March 4 2005 Reclassification of shares March 30 2005 Our company was reconverted to public limited company.Major Milestones in the history of our Company and its predecessors1978 Ahmedabad Induction Alloys Pvt. Ltd. (which was later to merge with our Company) Incorporated as a private limited company for the manufacture steel alloy alloy steel and alloy iron castings used in cement and utility Industries1979 Commencement of operations for manufacturing of wear parts for cement and power plants1983 Commencement of manufacture of centrifigually cast parts for Raymond mills 1984 Establishment of Research and Development department1985 Commencement of Manufacture of High chrome grinding media1988 Collaboration agreement with Slegten S.A. Belgium for redesign of liners and other mill internals used in cement/coal mills.1989 Commencement of Manufacture of high chrome liners level control and other diaphragmsMAJOR EVENTS OF OUR COMPANY SINCE INCEPTIONYear Key Events Milestones and Achievements 1991 Collaboration agreement with Magotteaux International S.A. Belgium1991 Development of In-house facilities to design and develop liners to optimize tube mill operations 1991 Acquisition of Paramount Centrlspun Casting Ltd Nagpur in 1992 which was engaged in manufacture of bi-metallic rolls used in coal grinding mills of Raymond mills. 1995 Technical collaboration with Southwestern Corporation (SWC) USA for introduction of MPSP System (consisting of Inserted Rolls Bullring Segments and Airport Ring Assembly as design of SWC) for process Improvement In Raymond mills.1997 Association with Alstom Power Paris (Earlier known as Stein Industries/GEC Alstom) for process know-how for Stein designed mills In power plants.2000 Termination of collaboration with Magotteaux International S.A.2003 Acquisition of 100% stake in VEGA UK through VEGA ME thereby making all VEGA Cos. wholly owned Subsidiaries of our Company.