Akzo Nobel India Ltd Company History

On 5th November, a Declaration of Intention was signed by the

Government of India, Imperial Chemical Industries Ltd., U.K. and I.C.I.

(India) Pvt. Ltd., to form a company for the manufacture of commercial

blasting explosives, safety fuses, etc.

The Company was incorporated as a public limited company in the State

of West Bengal to implement the agreement and the Certificate of

Commencement of Business was obtained on 19th August. The Company

manufacture explosives and accessories of all kinds, blasting

equipment, chemicals, Industrial and other preparation and fertilisers.

A technical collaboration agreement was executed between the Company

and Imperial Chemical Industries Ltd., who agreed to act as consultants

to the Company and provide the Company with the necessary technical

information.

24,00,000 shares held by ICI Ltd., U.K. and 6,00,000 shares by the

President of India.

4,30,000 shares issued at a premium of Rs 12 per share; 57,000 shares

reserved for allotment to the resident directors and employees and

3,73,000 shares offered to public. 13,73,000 shares offered to public.

13,72,000 Bonus shares issued in prop. 2:5.

In Oct/Nov. 16,80,000 `A' series No. of Equity shares issued at par:

(i) 76,00,000 shares to ICI Ltd., U.K.; (ii) 21,50,000 shares to IFCW;

(iii) 19,00,000 shares to the President of India; (iv) 21,67,200 shares

to members of the company other than the President of India and ICI

Ltd., U.K. and (v) 28,62,800 shares to public. `A' Series shares

became pari pasu with the existing shares from 1.10.1970.

Industrial licence was received for the manufacture of 1,000 tonnes

per annum of nitrocellulose, both blasting soluble and industrial

grade. This plant was commissioned in August 1978.

Industrial licence was received, Collaboration agreements were signed

with Imperial Chemical Industries Ltd., U.K., Benfield Corporation,

U.S.A. and Toyo Engineering Corporation, Japan.

During Jan./Feb. 71,60,667 Bonus shares issued in prop. 1:3. After

the bonus issue, 3,41,000 shares issued as rights (prem. of Rs 5 per

share; prop. 1:34) to resident Indian shareholders.

The Company offered 5,00,000 redeemable partially convertible secured

debentures of Rs 500 each for cash at par as rights to equity

shareholders in the proportion 1:58. These debentures carry interest

at the rate of 10 1/2% payable half-yearly on 31st March and 30th

September.

The Company received a letter of intent for the manufacture of 100

tonnes of primary reforming catalyst at Panki, in collaboration with

Imperial Chemical Industries PLC The boilers were commissioned in

April/May 1983 and generation of steam commenced. Letters of intent

were in hand for the manufacture of 100 tonnes per annum of

permethrin/cypermethrin for application as a cotton pesticide and for

the manufacture of methyl chlorosilanes.

With effect from 1st October, the Alkali & Chemical Corporation of

India Ltd. (ACCI), Chemicals & Fibres India Ltd. (CAFI) and Crescent

Dyes & Chemicals Ltd. (CDC) were amalgamated with the company.

In terms of the Scheme of Amalgamation, the Company issued and

allotted to the members of the merged companies without payment in cash

31,000-11% cumulative preference shares of Rs 100 each and 89,18,121

No. of equity shares of Rs 10 each as follows:

(i) 31,000-11% preference shares of 12,51,213 No. of Equity shares of

Rs 10 each to members of ACCI in proportion of 1 Pref.: 1 Pref. and 2

equity: 7 equity respectively,

(ii) 59,86,908 No. of equity shares of Rs 10 each to members of CAFI

in the proportion 4:5, fractional entitlement being sold and

distributed at pro rata basis, and

(iii) 16,80,000 No. of equity shares of Rs 10 each to members of CDC

in the proportion of 7:10.

At the option of the holder of any debentures, 20% of the face value

of each debenture i.e. Rs. 100 out of Rs 500 held by him is convertible

into six equity shares of Rs 10 each of the Company at a premium of Rs

62/3 per shares on 1st October.

If the Company makes a bonus issue of equity shares before 30th June,

the entitlement to equity shares of the debentureholder shall stand

augmented in the same proportion in which augmentation took place in

the issued equity shares capital of the Company consequent upon the

bonus issue.

Debentureholders not exercising the option will be paid Rs 100 per

debenture on 1st October, and the balance Rs 400 in 5 annual

instalments of Rs 80 each on 30th September commencing from 1983

together with the interest accrued thereon.

29,68,824 No. of equity shares of Rs 10 each were issued at a prem.

of Rs 5 2/3 per share in conversion of debentures and were allotted on

1.10.1982.

The Company issued 15% non-convertible debenture of Rs 100 each for

Rs 1,500 lakhs as rights to meet the requirements of working capital

and also the normal capital expenditure.

The turbo generator for the captive power plant at Panki was

commissioned on 16th July. The project for the primary reformer

catalyst at Panki was commissioned in September.

A letter of intent was received for the manufacture of 3 tonnes per

annum of uinapyramine salts.

Industrial licences were received for expanding the paint

manufacturing capacity at Rishra and for the Quinapyramine salts

projects.

The name of the Company was changed from Indian Explosives Ltd., to

IEL Ltd. Effective from 25th May, 1989, the name was again changed to

ICI India Ltd.

A modified letter of intent was received for the manufacture of

certain new drug items and for production of membrane cells for use in

caustic chlorine manufacture. Another application was made for

installation of an additional 450 tonnes per day ammonia stream with

matching urea capacity of the Panki factory. This project was proposed

to be set up based on the lattest energy efficient technology of ICI

plc. U.K.

Pref. shares redeemed on 31.7.1986.

The letter of intent for expanding polyester staple capacity to

30,000 tonnes per annum was converted into an industrial licence.

New products such as Maxilite gloss and emulsion and a masonry paint

were added to the existing range. Dulux colour centres were set up at

major centres to provide advice in areas of home decoration.

The Company awaited Government clearance for production of membrane

cells and coating of electrodes for use in caustic chlorine

manufacture. Approvals were awaited for polyurethanes, toner resins

projects and the fourth ammonia - urea stream project at Panki. The

Company also proposed to apply for letters of intent seeking investment

opportunities in other speciality and effects chemicals.

The Company introduced in the market new coil coating paint.

The foreign collaboration application for the manufacture of Accinox

ZC, a rubber chemical was approved by Government. Application was made

for a Letter of Intent for the manufacture of Methyl methacrylate and

the related Polymers, dispersions and sheets, Government approval was

also sought for introducing in India the latest generation synthetic

pyrethroid, lambdacyhalothrin, with the existing licensed capacity for

cypermetrin. Approval from Government was received for production of

FM-21 membrane cells and coating of electrodes.

MRTP approval was received for the manufacture of high quality, high

yielding hybrid seeds for cereals and oil seeds.

The antiozonant `Accinox Zc' plant at Rishra commissioned. A letter

of intent for methane diphenyl di-isocyanate was received.

With a view to reinforce a competitive edge, the range of bulk

products was extended by the introduction of `Poweran' series.

Never decorative and refinish paints were launched thereby improving

the operating efficiencies.

High quality hybrid seeds of sunflower and maize were launched.

A Memorandum of Understanding was entered into between the Company

and Nalco Chemicals Company, U.S.A. (Nalco) for the manufacture of

speciality chemicals and industrial application.

The Company and Nalco would each subscribe for upto a maximum of 40%

in the equity capital of the joint venture company and the remaining

shares accounting for 20% of the total equity would be offered either

to Indian public and/or to financial institutions, depending upon the

final scheme of finance to be approved by Govt.

The Company made an application for a letter of intent for the

manufacture of 12,000 tonnes per annum of speciality chemicals. The

new Company's factory was proposed to be set up at the Rishra, West

Bengal.

New products in the growing segment of decorative paints were

introduced. The introduction of `Dulux', `Maxilite' and `Cobra' brands

increased the growth in paints volume.

The Company introduced `Tenoclor' - a fixed dose cardiovascular

combination with diuretic in 1994-95.

Agrochemicals were transferred to a joint venture with Zeneca plc

U.K. to ensure a strong market position through continued introduction

of new products and technologies.

The Company was progressively replacing Nitroglycerine based packaged

explosives with emulsion and for the purpose a new small diameter

emulsion manufacturing facility was commissioned at Gomia. Formation

of joint venture for initiating explosives with the Emign Bickford

Company USA was being implemented.

The launch of international ICI brands `Weathershield' and `Duette'

added strength to the production fortfolio.

A Joint venture with The Ensign Bickford Company, USA initiating

Explosives Systems India Ltd. was formed.

A new paints plant at Thane was commissioned in December.

The new state-of-the-art 20 million litres per annum automotive

refinish and decorative paint manufacturing facility was commissioned

in March 1998 at Mohali near Chandigarh.

New products like Lignocaine Buprenorphine, Neostignine, Maxigard and

ICIDIL were launched.

Imperial Chemical Industries plc., U.K. the holding Company, holds

2,07,76,213 No. of equity shares of the Company.

ICI (India) Limited is set to form a joint venture company with

Herberts of Germany for manufacturing and marketing automotive paints

in India and the Asia Pacific regions. The two companies have already

entered into a technical tie-up for manufacturing and marketing

automotive coating in India and Asia.

ICI India, a subsidiary of Imperial Chemical Industries Plc of UK,

signed a joint venture with Gujarat State Fertilisers and Chemicals

(GSFC) to market acrylics products of GSFC.

ICI India Ltd. a partly owned subsidiary of ICI plc of the UK, has

acquired the nitrocellulose business of Asha Nitrochem Industries Ltd.

at Valsad in Gujarat.

ICI which has set up new paint factories at Thane, and Mohali in

Maharashtra is slated to commission another plant at Chennai.

An agreement has been entered into with Zeneca Ltd. of UK for the

sale of ICI India's 49 per cent shareholding in Zeneca ICI

Agrochemicals Ltd.

The company has also entered into an agreement with Nalco Chemicals,

USA, for the sale of its 40 per cent shareholding Nalco Chemicals India

Ltd.

Initiating Explosive Systems India Ltd, ICI India's joint venture

with The Ensign Bickford Company (EBCo) of the US, is all set to

introduce the EXEL, Handide range of detonators in the country.

The company has signed an agreement with Orica Investment Pvt. Ltd.,

Australia, a subsidiary of Orica Ltd for transfer of its explosives

business, including its shareholding in the share capital of IES India

Ltd., to Indian Explosive Ltd., a joint venture to be established with

orica Ltd. The company will hold 51 per cent of the issued share

capital of Indian Explosives Ltd. and the balance 49 per cent will be

held by Orica Ltd.

ICI India Ltd, subsidiary of ICI Plc of the UK, has embarked on a

restructuring drive to focus on specialty products and paints to align

businesses in line with the global parent.

ICI India Ltd, a subsidiary of British multinational ICI Plc, is open

to acquisitions of brands and companies that synergise with its core

competency and portfolio.

ICI India is exiting from the polyurethane business by selling off

the business to Huntsman Corporation of US. The Company is also hiving

off its motor and industry paint business into a 50:50 joint venture

with Berger Paints.

ICI India is set to enter the flavours & fragrances business, and has

commissioned an in-house study of the market.

ICI India Ltd has decided to redesignate the following Wholetime

Directors with effect from April 01, 2002. 1. Mr R L Jain whose current

designation is Wholetime Director and Chief Operating Officer will be

designated Wholetime Director and Chief Executive Officer, Paints. 2.

Mr M R Rajaram whose current designation is Wholetime Director will be

designated Whole Director and Chief Financial Officer.

ICI India transfers pharmaceuticals business to Nicholas Piramal.

ICI India Ltd has informed BSE that Mr Suresh Chandra, a nominee of the Government of India, has resigned and ceased to be a Director of the Company w e f July 05, 2002.

Sudhir Krishna appointed as Director of ICI India.

ICI India announces change in the management

1. Mr Ashok Ganguly, Chairman has decided to retire

2. Mr Aditya Narayan, MD has decided to resign

3. Mr Rajiv Jain has been appointed as MD along with current role as CEO.

ICI India has reported a 34% growth in the net profit at Rs. 107.7cr.

ICI India has entered into an agreement with Orica Investment Pvt Ltd of Australia

for the sale of its 51% holding in Indian Explosive ltd for a consideration of Rs.666.4 miilion

ICI India to seek members Approval to divest Nitrocellulose and Trading Businesses through Postal Ballot

ICI India Ltd has informed that Mr Sudhir Krishna, a nominee of the Government of India, has ceased to be a Director of the company wef January 21, 2004.

ICI Paints introduces Supergloss 5-in1, a unique enamel paint for wood and metal surfaces.

Nitrocellulose and Trading business transferred to Nitrex Chemicals India Pvt. Ltd.

Unveils new acrylic latex based paints Dulux Weathershield Max and Tileshield for exterior walls and roof tiles respectively in the Kerala market

ICI India, paint division, launched its Dulux ColourFutures 2006, new range of shades based of annual forecast of international colour trends, in the city on March 18.

ICI Paints has launched Inspira, 4-wall finish super premium paint, in the Kerala market.

ICI India Ltd has informed that the registered office of the Company has been shifted from Chowringhee Road, Kolkata to Middleton Street, Kolkata with effect from January 08, 2007.

ICI India Ltd has appointed Mr. Sandeep Batra as a Whole-time Director of the Company with effect from April 01, 2007.

Registered Office of the Company has been shifted From Chowringhee Road, Kolkata to Middleton Street, Kolkata

ICI India Ltd has appointed.Mr. A J Britt has been appointed as a Director of the Company w.e.f. May 12, 2008.

ICI India Ltd has appointed Mr. Nihal Kaviratne as an Additional Director of the Company w.e.f. March 30, 2009.

ICI India Ltd, the domestic subsidiary of AkzoNobel's decorative paints business, has announced the appointment of Mr Amit Jain as its Managing Director (MD). Mr Jain, who will be relieving Mr Rajiv Jain from this position, was earlier with MTV Networks, Coca-Cola and Viacom-18.

AkzoNobel was one of the big winners at this week’s inaugural Transform Awards, the UK’s only dedicated celebration of rebranding, brand transformation and reputational change.

AkzoNobel to add new plant at Ningbo site in China.

AkzoNobel formally acquires Dow powder business

Company has changed its name from ICI (India) Ltd. to Akzo Nobel India Ltd.

A new steam pipeline installed as part of a joint project between AkzoNobel and Dutch waste processing company

AkzoNobel's Let's Color film wins prestigious TED award

AkzoNobel completes acquisition of Schramm Holding AG

AkzoNobel completes acquisition of Chinese surfactants producer

AkzoNobel has cemented its position as a global sustainability leader after being ranked in first place in the Chemicals supersector on the prestigious Dow Jones Sustainability World Indexes (DJSI)

AkzoNobel Wins European Responsible Care Award

AkzoNobel, the world’s largest Paints and Coatings Company and a leading producer of Specialty Chemicals, has launched a The India Analytical Centre (IAC) at its International Research Centre at Bangalore.

AkzoNobel, has in India, launched a campaign to promote its new product, ‘Velvet Touch Pearl Glo’.

AkzoNobel, has launched Dulux Guardian, a unique anti-bacterial paint that promotes a more hygienic environment at home.

AkzoNobel strengthens its professional portfolio by introducing Weathershield Next Gen exterior emulsion with Innovative Puma Technology

Akzo Nobel India Ltd has informed BSE that the Company has entered into an Agreement with ACI Formulations Limited, Bangladesh for distribution of its decorative paints products in Bangladesh.

The Companys new green field plant at Gwalior has commenced commercial production of paint products during the year

Akzo Nobel India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 20, 2013, has recommended a dividend of Rs. 20.00 per equity share plus a special dividend of Rs. 60 per equity share 2014

AkzoNobel's Dulux company has been conferred the title of ‘Superbrand’, by the Super Brand Council.( Independent authority on branding).

the Board of Directors of AkzoNobel India Limited approved the appointment of Jayakumar Krishnaswamy as Managing Director of the company.

The Board of Directors of AkzoNobel India Limited approved the appointment of Jayakumar Krishnaswamy as Managing Director of the company.

AkzoNobel's Dulux has been conferred the title of ‘Superbrand’, by the Super Brand Council. (The Super Brand Council, an independent authority on branding).

Akzo Nobel India Ltd has recommended a dividend of Rs. 15.00 per share

Akzo Nobel India Ltd has formally inaugurated a new laboratory facility at its Thane.

Akzo Nobel India to divest its Specialty Chemicals Business

Akzo Nobel Board recommends buy-back of shares