ABC Bearings Ltd Merged Share Price

Summary

Established in 1960 by setting up a plant in Lonavala, in collaboration with Steyr Diamler Puch, Austria, ABC Bearings which was previosly known as Antifriction. Currently it is having three plants two in Gujarat and one in Maharashtra.The plant manufactures ball thrust, taper and cylindrical roller bearings. The Lonavala plant was plagued by frequent labour troubles, thereby increasing the work load on the Bharuch plant.Expansions undertaken by the company have boosted its bottom line. In 1990-91, it expanded the capacity of its plant at Lonavala from 1.7 mln to 3 mln bearings. The expansion was part-financed by term loans and internal accruals. During 1997-98, the company has entered into a long term licensing and technical assistance agreement for Ball and Tapered Roller Bearing with NSK Ltd, Japan to upgrade its manufacture process and improve quality of the product. The plants continue to enjoy the ISO 9001 and QS 9000 certification. The company offered equity shares on rights basis to the existing shareholders at par in the ratio 1:1, which was fully subscribed and paid-up capital after the issue increased to Rs.1155.00 lacs.As the company incurs heavy losses in the Ball Bearing Division the Management has decided to exit from this business and concentrate more on its core business of manufacturing and marketing of Roller Bearings.The company has absorbed Technology assistance from Japan and their experts visited the plant to guide the engineering staff and implementati
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