Eimco Elecon (India) Ltd - EIMCO ELECON(I) Share Price

Summary

Eimco Elecon, established in 1974 was promoted as a joint venture between Elecon Engineering Company and Envirotech Corporation, US (a subsidiary of Baker Hughes), to manufacture hi-tech drills and loaders used in underground mining. Envirotech was active in the mining business through its division Eimco Mining Equipment Group, till 1989, then from Baker Huges, the Eimco division was taken over by the Finnish Industrial Organisation OY Tampella, whose mining equipment division Tamrock is the market leader with over 40% share internationally, OY Tampella through its subsidiary, Tamrock Great Britain Holdings, held around 39% of Eimco Elecons Rs 2.47-cr equity till the Dec 92 issue later its holding decreased to 25.1%. Eimco Elecons product range includes mining equipment like air-powered rocket shovels, electro-hydraulic side dump loaders, etc. The air motors manufactured by the company are partly used for captive consumption. Later EEL has diversified into granite quarry line products. In 1995-96, the company installed two wind mills with a total generating capacity of 0.60 MW at Upleta/Pransla (Rajkot district), Gujarat.The Company has obtained the prestigious ISO 9001 Quality Management System Certification from TUV Management Services Gmbh, Germany for Design, Development, Manufacturing, Installation and Servicing of Mining and Construction Machines, Hydraulic Cylinders and Accessories.In 1999-2000, the company has signed two collaboration agreements with Sandvik Tamrock... Read More