Gontermann Peiper India Ltd Company Summary

Gontermann Peiper India Ltd Summary

Gontermann Peippers (India) (GPI) was incorporated in 1966 to manufacture iron and steel base rolls with an initial capacity of 3000 tpa, in technical and financial collaboration with Gontermann Peippers, Siegen, West Germany. The Ispat group took over its management in 1981-82.As a result of the modernisation-cum-expansion programme undertaken by the company over the years, the installed capacity of the company has increased to 8000 tpa, thereby making it one of the leading producers of iron and steel base rolls in India. At present, GPI is the largest exporter of rolls from India. In recognition of its excellent export performance, GPI was awarded the Certificate of Excellence by the Engineering Export Promotion Council in 1992-93 and 1993-94 and the Regional Shield for Export Excellence in 1993-94. In Mar.95, GPI received the ISO 9002 certification.It has taken up an expansion-cum-diversification project which has increased the installed capacity of cast iron and steel rolls from 8000 tpa to 12,000 tpa. The trial production of Foreged Roll Project was implemented at Pailan West Bengal has been under stabilisation and operations is expected to commence from April 2002. The delay in commissioning in project is mainly dealy in installation of some of the equipments,due to non-stabilisation of process parameters etc.The installed capacity of forged rolls was also increased from 1650 MT to 2475 MT and is planning to increase gradually to 3300 MT p.a. GPI has also diversified into textiles by setting up a 1.15-lac spindle project to manufacture cotton and blended yarn in the Baddi Industrial Area, Solan district, Himachal Pradesh.The Textile Division of the Company has been accredited with ISO 9002 Certification by Bureau of Indian Standards. The Textile project of the Company for manufacturing of cotton and polyester cotton yarn has full commenced commercial production during 1999-2000 with an installed capacity of 84672 spindles and 960 open end rotors.The textile division of the company was demerged during August 2003 and subsequently merged with GPI Textiles Ltd.According to the scheme of arrangement,i. Reduction of capital by Rs.8.24 per share from Rs.10/- fully paid up equity shares each in the company,ii.Consolidation of 17 equity shares of Rs.1.76 each fully paid up into 3 equity shares of Rs.10 each fully paid up of the company & iii.4 equity shares of Rs.10 each of GPI Textiles Ltd for every 5 existing equity shares of Rs.10 each(prior to reduction of capital) held in the company.