Promoted by Gautam Jha and associates with Suresh Sharma, Vertex Machineries (VML) was incorporated on Sep.94 as a private limited company. It became a public limited company in May 95. VML group companies are Brakes Auto (I), S S Forgings and Engineering and Sterling Kalksand Bricks.In Feb.96, the company came up with a public issue, aggregating Rs 12.66 cr to part-finance the expansion of integrated alloy steel wires and eutetic grade bar plant by setting up a 24 stand tandem mill (48,000 tpa) and a 15,000 tpa induction furnace at a project cost of Rs.23.10 cr. The commercial production of the above expansion project is expected to commence from Aug.96.
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