Carol Info Services Ltd Company Summary

Carol Info Services Ltd Summary

Wockhardt was promoted by the Khorakiwala family in 1959 and was known as Worli Chemicals. In 1979, Wockhardt set up a new pharmaceutical plant at Aurangabad. A second company, Wockhardt Synchem, was floated to manufacture speciality bulk drugs, at Ankleshwar, Gujarat.With the demerger of its pharmaceutical division into a separate entity, the company has been renamed Wockhardt Life Science while the new company with the pharmaceutical division is now called Wockhardt. In 1989, it diversified into medical services by setting up a day-care facility, Wockhardt Medical and Research Centre at Calcutta. In 1990, Wockhardt set up an IV fluid manufacturing plant at Waluj with technical assistance from Pharmaplan, Germany. It also started a super-speciality hospital in Bangalore, specialising in cardiology, cardiac surgery and kidney transplants. In 1992, it commissioned its new bulk drugs plant and began work on its third bulk drug plant at Ankleshwar. It set up a subsidiary in Ireland, Wockhardt Europe, to promote exports. In 1994, Wockhardt floated a $ 75 mln GDR issue to raise the funds required for its expansion plans.It has enterered into a joint venture with Rhein Biotech, Germany, for research and development and manufacturing of biotechnology products. In 1995, Wockhardt received the national award for R&D efforts in the biotech industries by the Department of Science and Industrial Research. It has acquired Accumed Pharmaceuticals, US, with which it had a joint venture for a couple of years. Moreover, Wockhardt has established international offices in Russia, China and Africa.In 1998-99, it acquired two turnaround companies, Merind and Wallis Laboratory in the UK. The joint-venture in the United States with Sidmak Laboratories Inc started commerical production.Recently, the company has leased in perpetuity half its building at the Bandra Kurla Complex called Wockhardt Towers to Enron India for amassive Rs 125.75 crore. The deal involves Enron acquiring four floors from the first to the fourth euivalent to a built up area of 10,816 square meters as well as interests in land and 101 car parking spaces.Wockhardt Health Care Limited was amalgamated with the company in 2000-01. During July 2002 Baxter(India) Private Ltd,IV Fluid business of the company has been sold to BIPL for a consideration of Rs.1659 million.With effect from 07.11.2003,the name of the company has been changed from Wockhardt Life Sciences Limited to Carol Info Services Limited.