Borax Morarji Ltd Merged Company Summary

Borax Morarji Ltd Merged Summary

Borax Morarji, promoted jointly by Dharamsi Morarji Chemical Co. (DMCC) and Borax Holdings, UK, to manufacture borax and boric acid and was incorporated on 27 Aug.63 at Bombay. In June 1979, Borax Holdings, UK, the technical and financial collaborator, has disinvested its entire stake in the company. The Other promoter, DMCC, holds around 38.62% of the equity. Borax Morarji is a well-diversified, multi-product, multi-locational company with three divisions - chemicals, timber and a 100% EOU. The companys timber division comes into existence in 1991 when the company has diversified into the manufacture of Injecta (a wood preservative) and chemically treated rubberwood. The company had set up a plant at Shenbagaramanputtur in Kanyakumari District of Tamil Nadu to manufacture 12,000 cu mtr pa of chemically treated rubberwood. This plant was set up in technical collaboration with the Danish Wood Treating Co, Denmark, This the chemically treated rubberwood is marketed under the brand name Borotik. These are made from plantation trees and are substitutes for wood from natural forests.In 1994, the companys timber division undertaken a forward integration project by setting up a 100% EOU to manufacture 4200 cu mtr pa of brush blocks and broom blocks in technical collaboration with BVBAC. Casier Blomme En Zonen, Belgium, has agreed to purchase the entire production for the next five years since 1994.For captive consumption the company has set up wind farms at Coimbatore in Tamil Nadu and Satara in Maharashtra. This division meets 75% of the companys power requirements. The coimbatore farm consists five wind turbine and the company is also in the process of setting up another turbine at an extimated cost of Rs.5.2 crores. At Satara the company has installed two Wind Mills in 1999-2000 and one more wind mill of 350 KW was installed in 2000-01 for the captive consumption of the Chemical Division at Ambarnath. A new Spray dryer had been installed at the Ambarnath factory to produce value added speciality Boron chemicals of internationally accepted quality.In the year 1999-2000, the companys Speciality Boron Chemicals have been introduced into markets in Europe, USA and Australia and is expected to grow in the coming years. To offer effective service for its products in the Middle East region, the company has appointed an agent in Dubai.In 2000-01, the companys chemical division at Ambarnath has been awarded quality standard certificated ISO 9002; 1994 by Bureau Veritas Quality International, UK.