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Tube Investments of India Ltd is part of the USD 2 billion Murugappa Group. The company manufactures precision steel tubes and strips, car doorframes, automotive and industrial chains and bicycles. Their operations are organized into three divisions, namely Cycles, Engineering and Metal Formed Products. The company has 13 manufacturing/ assembly units spread across the country.
Tube Investments of India Ltd was incorporated in the year 1949 as TI Cycles of India in collaboration with Tube Investments Ltd, UK. The company started Tube Products of India Ltd in the year 1955 for manufacturing tubes. In the year 1959, Tube Products of India Ltd merged with the company and the name was changed to Tube Investments of India Ltd.
In the year 1960, the company started TI Diamond Chain in collaboration with Diamond Chain Co, USA as a backward integration to the company. In the year 1962, they started Cold Rolling Mills for the production of CR Strips at Avadi in Tamilnadu. In the year 1982, they forayed into metal forming for the automobile industry through a new factory at Avadi.
In the year 1998, the company set up a new facility at Bawal in Haryana for producing car doorframes for Maruti 800. Also, they set a facility for producing door frames for Hyundai Santro at Nemilicherry. In the year 1999, the company acquired Tube Plant at Mohali. In the year 2001, the company set a cycle manufacturing plant at Nashik in Maharashtra.
During the year 2002-03, the company made investment of Rs 76.30 crore towards the equity capital of Cholamandalam General Insurance Company Ltd. Consequently, Cholamandalam General Insurance Company Ltd became a subsidiary of the company with effect from July 5, 2002. Also, the company entered into a shareholders agreement with Mitsui Sumitomo Insurance Company Ltd of Japan for the operations of the insurance venture.
During the year 2003-04, the company commissioned a cycle assembly plant at Noida. They established a new plant in Halol, Gujarat, for the supply of doorframes to General Motors. In January 2004, they established a SKD unit in Durgapur. In March 2004, TI Diamond Chain Ltd, a company engaged in the manufacture of automotive, industrial and agriculture chains became a subsidiary company.
During the 2004-05, TIDC India Ltd, a subsidiary company transfered all their assets, liabilities and business to the company as a going concern with effect from April 1, 2004. During the year 2006-07, the company incorporated a wholly foreign-owned enterprise namely, Tubular Precision Products (Suzhou) Co Ltd in China for the manufacture of precision steel tubes. They also launched the BSA range of fitness equipment during the year under the brand 'BSA Workout'.
During the year 2007-08, the company launched a new range of high end bikes and fitness products in select markets. Also, they commenced commercial production at their tube manufacturing company in China. During the year, the company was chosen as the sole supplier of doorframes for the Nano cars of Tata Motors Ltd.
In June 2008, the company inaugurated their new electric scooter plant with an investment of Rs 200 million. In September 2008, they divested their entire equity holding of 26% in BorgWarner Morse Tec Murugappa P Ltd for a value of Rs 20.40 crore in favour of their joint venture partner BorgWarner Morse Tec Inc, USA.
In November 2008, BSA Motors, a strategic business unit of the company, launched five models of e-scooters in Chennai. The new models Smile, Street rider, Diva, Roamer and Roamer plus is powered by 250, 500 and 800 watts motors.
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