Jhagadia Copper Ltd Company Summary

Jhagadia Copper Ltd Summary

SWIL was incorporated as Shalimar Wires & Industries in Mar.62 and got its present name in 1984. It was promoted by Satya Narayan Khaitan who has interests in other companies such as Anil Steel and Industries, Shalimar Industries, etc. In Dec.91, it came out with a Rs 6.87-cr public issue of 14% secured PCDs of Rs 100 to expand and modernise the companys plants at Nashik and Uttarpara. Its products include fourdrinier metallic wire cloth, dandy rolls, showers, brackets, which are import substitutes consumed by the paper industry, synthetic fibres, copper and copper alloy wires, copper alloy and nickel silver strips. The company has collaborations with a number of foreign companies, prominent among which are Metco Form, Finland, for multi-layer forming fabrics; United Wire, UK, for synthetic wire cloth and Sinclair International, US, for paper machine accessories.SWIL exports its products to Japan, Taiwan, Thailand, Indonesia, South Korea and Bangladesh. In 1993, BIFR leased out a sick unit -- Pamwi Speciality & Tissue Papers -- to SWIL for an annual rent of Rs 3.2 cr. The company has set up a copper smelter cum refinery at Jhagadia in the state of Gujarat to produce 50000 MTPA Copper cathodes, confirming to LME Grade A. This plant is set up in collaboration with Boliden, Sweden. This diversification project includes installation of plant and equipments for production of spirally linked canvas used in drying zone of paper machine and pollution control and have also taken up plans for manufacturing dryer woven screen for the dryer section of the paper machine. The Refinery part was cold commissioned on May 2002 and the project is ready for hot commissioning.