DIC India Ltd Company History

Coates of India was entered into a joint venture with Valspar Corporation of the US and transferred its can coatings business to this company.

The company proposed to enter a joint venture with Cray Valley

of France. Approval was awaited from the Pollution Control

Board.

Approved the scheme for transfer of the packaging coatings business of Coates to the joint venture with Valspar Corporation of the US.

decided to participate in the equity of Cray Valley Resins India Ltd the new joint venture between the company and the French firm Cray Valley.

Coates of India's proposed joint venture in India with Cray Valley of France now more than a year on the starting block faces a grim future despite a Central Government clearance for the project.

The `AA' (pronounced `double A') rating assigned to the nonconvertible debenture programme (enhanced from Rs. 3 crores to Rs. 10 crores) has been reaffirmed.

Coates of India Ltd has spun off its packaging coatings business into a wholly owned subsidiary company called Coates Coatings India Ltd (CCIL) which has initiated moves to induct Valspar Corporation of the US as a 49-per cent joint venture partner.

The parent company TotalFina SA has signed a memorandum of understanding with Sun Chemical group for the transfer of the coating inks divisions of TotalFina.

Finalised the sale of its adhesives division to Bostik India Pvt Ltd at a consideration of a little over Rs 9 crore.

The Oswals of the Ludhiana-based Vardhman group have bought out Coates in the joint venture company Barber Vardhman.

SUN Chemicals Group BV (SCGBV) which had already acquired 51 per cent stake in Coates of India Ltd has made an open offer to buy an additional 17 21 385 shares of Rs. 10 each at Rs. 165 per scrip from the existing shareholders.

Acquisition of 59.42 per cent controlling stake in Coates of India Ltd (COIL) the DIC (Dainippon Ink and Chemicals) Group of Japan has decided to bring into India some of its top-end products in the graphic arts business.

Sun Chemical Group B.V. has acquired 35,11,624 (51 per cent) equity shares of Coates India Ltd from Coates Brothers Plc UK at a total consideration of GBP 60,20,000.

Mr. B S Kampani has been appointed as Wholetime Director of the company.

Dainippon Ink & Chemical (DIC) Asia Pacific, the Singapore-based parent of Coates of India (CoI), has hiked its stake in the Indian subsidiary to 61.4% from 59.4% by buying shares from the secondary market.

DIC (Dainippon Inks & Chemicals) Group of Japan, has decided to set up a new plant in Bangalore for some of its specialised Graphic Arts products.

DIC Asia Pacific Pte Ltd. Singapore has informed that they have acquired 1,69,491 shares amounting to 2.46% of the total paid up capital of Coates of India Limited.

Board accepted the resignation of Mr B M Varma - Non-executive Director from the close of business on October 31, 2003.

Coates Of India Ltd has informed that pursuant to the application for change of name made by the company, the Registrar of Companies, West Bengal has issued a fresh certificate of Incorporation dated August 6, 2004 for change of name of the company to DIC India Limited

Dic India Limited has appointed Dr. P K Dutt, Managing Director to take on the resposibility of Chairman-cum-Managing Director of the Company.

DIC India Ltd has appointed Prof. Ranjan Das & Mr. Subir Bose, as Independent and Additional Directors in the Board of the Company to hold office till the date of forthcoming Annual General Meeting of the Company.

The company has issued rights in the ratio of 1:3 at a premium of Rs.215/- Per Share.

DIC India Ltd has informed that the Board of Directors of the Company at its meeting held on July 25, 2009, inter alia, Mr. Bhaskar Nath Ghosh has been appointed as an Independent and Additional Director in the Board of the Company to hold office till the date of forthcoming Annual General Meeting.

Recommended the payment of dividend at the rate of Rs. 4.00 per share (2008- Rs. 3.50 per share) on the Capital of 9,178,977 equity shares of Rs. 10/- each.

Execution of the Share Purchase Agreement entered into between DIC India Limited and The Valspar (Singapore) Corporation Pte Limited.

Board has recommended a Dividend of Rs. 4.00 (40%) per share and a special dividend of Re. 1.00 (10%) per share

Board has recommended a Dividend of Rs. 4.00 per share on the capital of 9,178,977 equity shares of Rs. 10/- each.

Board has recommended a Dividend of Rs. 4.00 per share on the capital of 9,178,977 equity shares of Rs. 10/- each.

DIC India Inaugurates its new state-of-the art manufacturing facility in Gujarat.