HALDYN GLASS Share price

The Company was incorporated on April 25 1991 as a PublicLimited Company under the name of Haldyn Glass (Gujarat) Ltd.and received Certificate of Commencement of Business on 1stOctober 1991. The promoting company Haldyn Glass Ltd. (HGL)had earlier planned a project with the financial assistance fromIDBI at an estimated cost of Rs.700 lakhs envisaging relining adupgradation of its Amber Glass facilities from 75 tpd to 100 tpdand installation of 3 imported secondhand IS machines (2 IS-8and 1 IS-10) in place of 3 then existing machines at itsfactory at Bombay. However foreseeing further increase indemand for amber glass bottles HGL planned to consolidate themanufacture of Amber Glass bottles and for the purpose it issetting-up a new grass-root plant with an installed capacity of130 tpd under a new company in the name and style of HaldynGlass (Gujarat) Ltd. (HGGL) for manufacture of soda lime amberglass bottles at village Gavasad Dist. Baroda Gujarat. HGLtherefore would discontinue the manufacture of amber glassbottles at its existing plant at Goregaon Bombay. The 3 ISmachines along with 1 IS-8 machine acquired in 1989 are beingleased out after reconditioning alongwith some other existingassets by HGL to HGGL. Apart from the lease transaction enteredinto with HGGL and other transactions as mentioned elsewhereHGL does not envisage any other transaction with HGGL in future.