UT Ltd Company Summary

UT Ltd Summary

UT (formerly Usha Telehoist) is engaged in the manufacture of hydraulic equipment, high pressure pumps and airport equipment. The companys range of products find application in agriculture, mining, construction and heavy industries.In 1994-95, the company set up a 100% EOU subsidiary -- Usha Hydraulics International (UHIT). UHIT as a joint venture with Interlift International, UK. Sub-assemblies are supplied by the company for a complete range of hydraulic access platforms to Interlift through UHIT. Interlift assembles the equipment provided by UHIT and adds locally manufactured bulk components to mount the machinery on vehicles as per the customers requirement. The finished product then would be marketed by Interlift in Europe, the US and other important markets of the world.In 1990, Usha Hydraulics, a sick unit promoted by the company, was amalgamated with it. The company diversified its activities to manufacture cylinders for steel plants. It also launched hydraulic lifts in technical collaboration with LM-LIFT, Germany, and set up an EOU for granite slabs and monuments.In 1995-96, the company set up a wind farm in Tamilnadu, where two of the companys units are located. During the same year, it also obtained the ISO 9002 Certification for its factories in Faridabad and Hosur. During 1996-97 the company established a joint venture with Moriroku Company Ltd, Japan to manufacture major plastic components for Honda Cars. During the same year the company became the first one having facility for manufacture and installation of hydraulic elevators and high pressure pumps to be accredited for ISO 9002 Certification by DNV. With this four major units of the company became ISO 9000 units.Company had taken several stringent measures initiated to contain cost. In areas of operation and procurement of important raw material, several important and significant reductions in cost have been achieved, which in turn, has mitigated the impact of lower net realisation obtained for the product of the company. Usha Hydraulic International Ltd is subsidiary of company.In 2000-01, the operations of Faridabad unit was suspended for more thant 5 months due to labour unrest and the Barotiwala unit was also suspended from Oct 2000. The company is planing to restructure its operations and divest the noncore activities and put more concentration on core Hydraulic business.