IAG Glass Company Ltd. कंपनी का इतिहास और वार्षिक वृद्धि विवरण

YEAR EVENTS
1956 - The Company was incorporated on 11th August at Calcutta, and
Commenced business from 1st October. It was promoted by Asahi
Glass Co. Ltd., Tokyo Japan in order to revive a sick unit viz.,
Sodepore Glass works Ltd., which went into liquidation. The
Industrial Finance Corporation of India who had considerable
Investment in Sodepore Glass Works Ltd., as mortgage, took
possession of their assets.

- The manufacturing operations were therefore suspended for about
four years before the Company took over the Sick unit. Under the
technical guidance of Asahi Glass Co. Ltd., Japan, the Company
started manufacturing Sheet Glass.

- The main objective of the Company is to manufacture sheet glass,
including thinner grades ranging from 1:1 mm thickness,
substantially required by the Defence and Civil Health Services,
Ophthalmic Lenses and desiliconised Zircon products.

1966 - Till now all shares held by Asahi Glass Co. Ltd., Japan and its
nominees. Out of the total shares issued 3,50,000 shares issued
for consideration other than cash.

1978 - The company undertook to set up a 100% Export Oriented Ophthalmic
lens project at Sodepore, W. Bengal in collaboration with Asahi
Glass Co., Ltd., Japan and Hanno Optical Glass Co., Ltd., Japan
for manufacture of spherical lens.

- As per agreement, the lens were to be exported under the trade
name 'Nikon'.

1979 - Again during July-August, Ashai Glass Co. Ltd., Japan, offered
for sale at par another 4,80,000 shares of the Company to Indian
residents which brought down the non-resident holding to 40%.

1985 - The company's proposal for withdrawal from 100% EOU scheme was
accepted by the Government in principle. Various options were
under consideration regarding the utilisation of the said sick
unit.

1986 - The sheet glass plant was modernised. Further the product mix
was improved to include figured and rolled glasses.

1987 - The Company's plant No. 11, established for the manufacture of
glass for processing industries, commenced production in October.
The product range of the company was widened with the
introduction of figured glass of low fragility and exquisite
designs from 2 mm onwards in thickness.

1988 - 16,00,000 right equity shares issued (prop. 1:1: Prem. Rs. 20 per
share). Another 19,700 shares issued to employees under Stock
Option Scheme (prem. Rs. 20 per share).

1989 - During May, fourcault-cum-Asahi furnace (Plant-I) was
reconstructed and the installed capacity was increased to 10
million sq. mtrs.

1991 - The company along with Asahi Glass Co., Ltd., Japan promoted
Float Glass India, Ltd., for manufacture and sale of float glass
manufactured by float process. The project has been set up at
Taloja, Maharashtra.

- 32,19,700 bonus equity shares issued in prop. 1:1.

1992 - The working results were adversely affected mainly due to
political disturbances, rise in the prices of basic inputs and
competition.

1994 - Production remained suspended due to shift in demand in export
market. SIA, EOU section, Government of India, accorded its
agreement in principle to the company's proposal for withdrawal
from 100% EOU scheme.

- In order to meet increased demand for the products, the company
proposed to expand production capacity of figured glass
substantially. Necessary financial arrangements were under
consideration for implementation of the glass project.

1995 - The company undertook the modernisation and technology
upgradation plans for complete re-orientation of its production
pattern.

1996 - During July, the 100% Export Oriented ophthalmic lens plant at
Sodepore was closed.

2008

- IAG Company Ltd has appointed Mr. Rakesh Dosi as Additional Director of the Company, designated as Director works with effect from June 16, 2008.

- IAG Company Ltd has inducted Mr. P Mittal, Mr. S K Biswas and Mr. B Jalan as Additional Director of the Company with effect from June 27, 2008.

-IAG Company Ltd has appointed Mr. H Banerji as Additional Director of the Company with effect from August 27, 2008.

- IAG Company Ltd has appointed Mr. Vijay Joshi as Additional and Executive Director of the Company with effect from November 12, 2008.

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