BGR ENERGY SYSTEMS Share price

We were incorporated as GEA Energie Systems India PrivateLimited on February 18 1985 by our Promoter Mr. B G. Raghupathy. For information relating to our Promoter see Our Promoter on page 139and Our Management on page 128.Our name was changed to GEA Energy System (India) Private Limitedby a resolution of our shareholders on October 17 1986 and a fresh certificate of incorporation consequent to the change of name was issued to uson April 3 1987. Our status was subsequently changed to a public limited company by a special resolution of our shareholders passed at the annualgeneral meeting held on December 10 1993. The fresh certificate ofincorporation consequent on conversion was issued to our Company on March 3 1994 by the Registrar of Companies Andhra Pradesh at Hyderabad.Our name was changed to BGR Energy Systems Limited by aresolution of our shareholders on June 25 2007. The fresh certificateof incorporation consequent to the change in name was issued to our Company on June 28 2007.In 1987 we commencedoperations through a joint venture with GEA Energietechnik Gmbh Germany. We supplied tube cleaning systems and debris filters for nuclear and thermalpower plants and established our first manufacturing facility at Pannamgadu Andhra Pradesh in February 1987. We supplied our products and alliedservices to a variety of domestic and international clients between 1987 to1993 in collaboration with GEA Energietechnik Gmbh Germany. 60000 Equity Shares were issued to GEA Energietechnik Gmbh Germany onSeptember 6 1987 pursuant to the above joint venture agreement.GEA Energietechnik Gmbh Germany divested its stake in our Company in 1993 to our Promoter and members of our Promoter Group pursuant tothe expiry of the joint venture agreement. The shares held by GEAEnergietechnik Gmbh were transferred to Arjun Securities Private Limited Vani Securities Private Limited Priya Securities Private Limited and Swarna Leasing Private Limited on March 31 1994.For details of the relevant transfers refer to Capital Structure on page 25.In 1994 with the object of expanding our product portfolio we acquired a company Schmitz Gmbh in Germany.This company was engaged in the business of manufacturing sponge cleaning walls. In 1999 we developed the capability to manufacture thesecomponents through Schmitz India Private Limited a Promoter Group Entity.We have transferred our entire holding in Schmitz Gmbh to Schmitz India Private Limited pursuant to an agreement dated August 1 2007 with effect fromJune 30 2007.Since 1993 we entered into a series of joint ventures andtechnical collaborations to increase the portfolio of products we offered.This included a collaboration for air cooled heat exchangers with GEA BttFrance in 1994;a license agreement with GEA Spirogills Limited UK forthe manufacture of welded finned tubes through our subsidiary Progen Systems and Technologies Limited in 1994; an arrangement with GEAEnergietechnik Gmbh for the manufacture of cooling systems through GEACooling Tower Technologies (India) Private Limited in 1996; and an arrangement in relation to environmental engineering solutions with CraneEnvironmental Inc USA in 2000.We established our power projects business in 1997 with the objective of developing power projects. Since 2000our power projects business commenced the process of providing balance of plant services for captiveand independent power projects in India and elsewhere.In May 2003 we provided engineering procurement and constructionservices for a 120MW power plant on a turnkey basis in KaruppurTamil Nadu and commenced the provision of such services for captivepower plants in India in 2006.In 2001 we commenced operations in the oil and gas sector andhave developed capabilities in providing packaged compressor solutionsin co-operation with Ariel Corporation USA.We also established an electrical projects business which commenced operations in 2003 and provides transmission infrastructure gas insulatedsubstations and optic fiber networks.We entered into a business acquisition agreement dated January 2 2006with Mrs. V. Girija Mr. Velpandian Mani the proprietrix and the chief executive officer respectively of VP Engineering Consultancy Services a sole proprietorship engaged in providing piping design and engineering services.Under this agreement we bought certain business assets of VP Engineering Consultancy Services including contracts orders work inprogress submitted bids and offers. Further under the agreement Mr. Velpandian Mani as well as certain employees of VP EngineeringConsultancy Services agreed to join the services of our Company under certainspecified terms. Mr. Velpandian Mani has undertaken to work for ourcompany for a minimum period of three years.Key Events and MilestonesYear Key EventsJuly 2007 Our Company sold the assets and liabilities of its energy division to GEA BGR Energy System India Limited by way of a slump sale.December 2006 The electrical project business obtained category ?F? power trading license from the Central Electricity Authority.December 2006 Our company secured its single largest export order for the supply of gas gathering and processing plant from State Company for Oil Projects Iraq.March 2006 Memorandum of Understanding with Ariel Corporation Inc which enabled our Company to become an Ariel qualified packager.January 2006 The electrical projects business won a contract forgas insulated switch gear from Hyundai Motors India LimitedNovember 2004 Our Company secured its first order for supply ofelectrical installations for 132 MW hydro power plant.November 2004 Our Company entered into an arrangement with Qingdao Jieneng Power Station Engineering Company Limited and Sichuan Chuanghua BoilerCompany for the procurement of boilersand steam generators on a case to case basis.October 2004 Our Company first supplied a debris filter for a hydroplant at SaramahMalaysia.July 2004 Our Company entered into an arrangement withgas turbine manufacturer for independent EPC contracting forpower projects.May 2004 Our Company secured an order for treating textileeffluents with V-SEP technology.Year Key EventsMay 2004 The air fin coolers business increased its capacity by 50%.April 2004 Our Company supplied equipment for off-shore projects to ONGC.June 2003 Our Company built and supplied a debris filter for a nuclear power plant in Taiwan.April 2003 Our Company secured its first engineering procurement and constrictioncontract for a 120 MW gas based combined cycle power plant in Karuppur Tamil Nadu.September 2002 and April 2003 Our Company entered into joint venture agreements on project basis with MECON Limited to bid for NHAI projects.March 2003 Our Company supplied a deaerator for a 500 MW nuclear power station.July 2001 Our Company secured a contract from BHEL for supply of balance of plant equipment for a 23 MW coal based captive power plant for Grasim Industries Limited.September 2000 Our Company enters into a technical collaboration agreement with Crane Environmental Inc USA.September 2000 Our Company secured its first contract for balance of plant from BHEL.May 1999 Schmitz India Private Limited commenced commercial operations.December 1997 Progen commenced commercial operations.March 1997 Our Company won two contracts from Tamil Nadu Government for power projects in Gumnidipanda and Perunthurai.March 1996 Our Company entered into a collaboration agreement with GEA Germany to set up GEA Cooling Tower Technologies (India) Private Limited.February 1996 Our Company acquired a 30% stake in Cuddalore Power Company Limited.January 1996 Our energy business obtained ISO 9001 certification.October 1995 Our Air Fin Cooler business commenced commercial operations.April 1994 Progen entered into a license and technical service agreement with GEA Spirogills Limited UK.January 1994 Our Company entered into a license and technical collaboration with GEA Btt France.January 1994 Our Subsidiary Progen Systems and Technologies Limited was incorporated. March 1993 GEA Germany divested its stake in our Company.February 1987 BGR Energy Systems Limited entered into a joint venture with GEA Germany.