The Company was incorporated on 28th September 1989 andobtained cortificate of commencement of business on 7thNovember 1989. The Company was promoted by Apar Limited andGIIC to set up manufacturing facilities for 6250 TPA ofNitrile Butadiene Rubber (NBR) at Bharuch Gujarat. NitrileButadiene Rubber is a synthatic rubber manufacturedby''polymerisation of Acrylonitrile (ACN) and Butadiene(IBD) monomers.The Company issued equity shares to public on January 211991 to part finance the Project. The project had a timeoverrun of A months. The delay in commisioning was as aresult of delay in receipt of critical equipment. TheCompany commenced trial production in the second week ofNovember 1991 and commenced commercial production onJanuary 16 1992. The Company''s initial performance wasaffected by various external factors such as raw materialshortage adverse impact of import policies and dumpingfrom international manufacturers of the Company''s products.As a result the company made operating losses for threeconsecutive financial years. As of 31st March 1994 theCompany was not a sick Company under the Sick IndustrialCompanies (Special Provisions) Act 1985. In the CurrentFinancial year the Company has turned around its operationsas result of:a) Improvement of the global Petrochemical / SyntheticRubber Industry.b) The promoters Apar Limited have transfered its profitmaking High Styrene Rubber business.c) Concessions provided by the financial Institutions.
| Name | Position |
|---|---|
| Mr. Kushal N Desai | Chairman & M.D & CEO |
| Mr. C N Desai | Managing Director |
| Mrs. Nirupa K Bhatt | Ind. Non-Executive Director |
| Mr. Rajesh Sehgal | Ind. Non-Executive Director |
| Mr. Kaushal J Sampat | Ind. Non-Executive Director |