Gontermann Peiper (India) Ltd Company History

The Company was incorporated on 27th December in Calcutta. The

company was promoted by Gontermann-Peipers GmbH, West Germany, and Shri

H.K. Nathani of Calcutta.

The Company's objects is to manufacture of iron based and steel based

rolls.

Gontermann-Peipers GmbH (GPS), West Germany, were the company's

collaborators for technical know-how and other services.

6,50,000 shares subscribed for by promoters (62,533) shares without

payment in cash to collaborators. 2,50,000 shares issued to public in

Sept. 1967.

650 No. of equity shares forfeited.

650 forfeited shares reissued.

A letter of intent was received to raise the capacity for rolls to

8,040 TPA at an estimated cost of Rs.470 lakhs.

The Company revalued its land and building and plant and machinery as

on 30th April.

4,50,000 shares issued at par to the public.

The object of the public issue of shares during January was to reduce

the foreign holding from 60% to 40% voluntarily.

Subject to necessary approvals being obtained, the company proposed

to make a Rights cum Public issue of fully convertible debentures to

the extend of Rs.145 crores to part finance the forged rolls project

and the textile project.

The overall working was affected due to hike in prices of nickel and

scrap and erratic power suply.

8,30,000 No. of equity shares allotted in conversion of loans.

Despite loss of production during the first half of the year due to

agitation by the workers' union.

As at 31st March the Company revalued its land buildings and plant

and machinery and the net surplus of Rs.370.60 lakhs arising out of it

was credited to the capital reserve account.

4,360,000 rights equity shares issued in prop. 2:1.

In order to cater to the market requirement of larger size of rolls

the company was adding up facilities with ladle refining furnace,

energy of optimising H.T. furnaces of latest design and big

lathes/grinding machines to turn rough weight upto 60 M.T. and grind

finish weight upto 40 M.T. The balance part of the scheme like

installation of ladle refining furnace, mechanised and, would drying

oven, new grinders and casting pit commissioned by the third quarter.

The company proposed to set up a textile unit having a capacity of

1,00,000 spindles in the State of Himachal Pradesh. It was also

proposed to set up facilities for manufacture of forged rolls at its

existing diamond harbour plant location.

The Company has taken up to increase the manufacturing capacity of

iron and steel base rolls to 12000 MT p.a. from 8,000 MT p.a. at its

existing works in West Bengal.

The Company undertook to set up the project in W.Bengal in a phased

manner. In the first phase, the company was to produce forged rolls

after processing forged blanks from outside sources. It was proposed

to set up complete facilities to produce forged blank right from the

melting operations in the second phase.

Subject to necessary aprovals being obtained, the company proposed to

issue 43,60,000 Right equity shares of Rs.10 each for last at par in

prop. 2:1.

GPI is examining proposals to set up a subsidiary or joint venture

company in Europe and the Far East in order to establish a global

presence and source its imports.

GPI entailed the setting up of the textile project with a capacity of

1,00,800 spindles and 960 rotors in Himachal Pradesh.

Gontermann-Peipers (India) Ltd (GPIL), part of the Ispat group of the

Mittlas is in the process of commissioning as "India's largest textile

spinning unit under a single roof."

GPIL diversified from its thriving cast rolls business into textiles,

by setting up a spindle project at Solan in Himachal Pradesh.

During the year, the company developed and produced steel pack up

rolls for a new generation hot strip mill.

The Company's state-of-the-art-spinning plant commenced production in

a phased manner with 64,512 spindless and 960 rotors.

GPI is also in the process of formalising as debottlenecking plan to

increase the production capacity of its rolls division at Diamond

Harbour.

The company has converted fully convertible debentures (FCD)

aggregating Rs 144.75 crore (Rs 100 crore = Rs 1 billion) into equity,

with effect from July 23, which would considerably reduce the interest

burden of the company.

The rights issue of 17 per cent fully convertible debentures of Rs

100 each and the public issue of 17 per cent fully convertible

debentures of Rs 100 each was made on February 23, 1998, would be

compulsorily converted into paid up equity shares with effect from July

23, in terms of the offer documents.

Gontermann-Peipers (India) Ltd. proposes to double the capacity of

its new forged roll facility in the south 24 Parganas district of West

Bengal to 3,300 tonnes from the existing 1,650 tonnes.

The Company appointed Shri L. K. Poddar as Managing Director of the Company.

Company has confirmed orders of more than 6 months production.

The Company has created an E-mail ID "

[email protected]

" exclusively for the purpose of registering complaints by investors

The Company recommended equity dividend of 10% for the year.

The Company recommended equity dividend of 15% for the year.

The Company has received order worth Rs. 12 Crores (approx.) from Jindal Power and Steel for its Raigarh plant and order amounting to Rs. 17.50 Crores from JSW Ltd for supply of rolls for its plants at Bellary.

Gontermann-Peipers India Ltd (GPI) has signed a memorandum of understanding (MoU) with the Chhattisgarh government to set up a pellet plant of 1.2 million tonne.

The Company has received the following Certifications: 1. ISO 14001:2004 2. ISO 9001:2008; and 3. OHSAS 18001:2007 for its activities related to Design, Development, Manufacture and Supply of Cast Steel, Cast Iron (Static & Centrifugal) & Induction Hardened Forge Steel Rolls.

Gontermann-Peipers (India) Limited announces major expansion plans.

The Company appointed Mr. Anil Sureka as an Additional Director of the Company.

The Board of Directors of the Company has appointed Mr. Susanta Ghosh as Additional Director of the Company.