Magna Industries & Exports Ltd Company Summary

Magna Industries & Exports Ltd Summary

Incorporated in 1989, Magna Industries and Exports (MIEL) is engaged in the manufacture of personal care products. It was promoted by Satish Bhangar the managing director of the company.MIEL is the first indian company to export talcum powder, soaps etc to USA. The company believes in making quality products and making it available at reasonable price.The company is expanding its production quality wise and quantity wise. It is also exporting newer products to foreign markets. Company has placed an order with an Italian company for the import of state of the art Soap Plant to manufacture transperant soaps. The company has also finalised a memorandum of understanding with one of the largest American company to buy back 50% of the production capacity.During 1996-97, the company installed detergent cake capacity of 9 lac kgs and detergent powder capacity of 5 lac kgs.During the year 1998-99, the company decided to sell the factory premises at Umbergaon. The Company has relocated its plant & machinery to other premise in the same area. The Company proposes to buy or construct a new factory in or around Mumbai to achieve locational advantage.