PREMCO GLOBAL Share price

Premco Narrow Fabrics Ltd. was incorporated as a privatelimited company on 15th September 1986 for the manufactureof narrow elastic tapes and woven fabrics.Subsequently by a special resolution at the Extra OrdinaryGeneral Meeting dated 28th September 1994 it was convertedinto a Public Limited Company and the Registrar of Companieshas issued a fresh certificate of incorporation consequent uponsuch conversion on 12th October 1994. The company changedits name to Premco Global Limited vide fresh certificate ofincorporation issued by the Registrars of Companies datedDecember 1 1994.Premco Global Ltd. (PGL) established its first unit in1988 to manufacture ''Woven Narrow Fabrics'' and knittedelastic tapes with six looms in Palghar. Over the years thepromoters have established five other associate concernsnamely: Naroleen Silk Mills Pvt. Ltd. (NSMPL) Sell morePvt. Ltd. (SPL) Goldstar Elastics Pvt. Ltd. (GEPL)Silverline Elastics Pvt. Ltd. (SEPL) and Fem Elastics Pvt.Ltd. (FEPL) and installed another 17 looms in thesecompanies at the existing site in Palghar. All theabove mentioned companies were engaged in processing jobsfor PGL.All the associate existing profit making companiesmentioned above have been amalgamated with the company witheffect from 1st April 1994 in terms of the court orderdated 25th October 1994 and endorsement made by ROC on31st October 1994. The amalgamation was entirely at BookValue. The main promoters of the above mentioned companiesare Mr. Bhagwandas Harjani and Mr. Ashok B. Harjani.The installed capacity of the Company together with theconstituents before merger was 200 lacs meters per annum.