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History of Bosch Ltd.

1951

- The Comp. was Incorporated on 12th November, in Chennai & shifted to Bangalore on 16th November, 1953. The main objects of company are to manufacture spark pluge for petrol engines & fuel injection equipment for diesel engines in technical & financial collaboration with Robert Bosch GmbH, West Germany.Trade Mark is `MICO'.

- Except for a 16 day strike at the Nasik factory towards the end of year which continued for a few days in January 1984, the industrial relations contributed to the improved working. The market situation improved during the first half of 1985. However there was a slackening of demand in the second half, especially in the last quarter, due to poor monsoons & recession in the commercial vehicle industry.

1953

- Another class of Redeemable preference shares was also introduced Right issues were made in August 1952, August 1953 & November 1955.

1961

- In March 1959, 25,000 No. of equity shares were issued to Robert Bosch, West Germany. In March, 1962, 30,000 Right equity shares issued at a prem. of Rs.10 per share in the prop. 1:5.

1963

- In January, 45,000 bonus equity shares issued in the prop. 1:4.

1964

- In February, 1966, 45,000 right equity shares issued at a prem. of Rs.10 per share in the prop. 1:5. In September, 1966, 90,000 bonus equity shares issued in the prop. 1:3. In October, 1966, further 15,000 right equity shares issued at a prem. of Rs.10 per share in the prop. 1:24.

1969

- In January, the Mysore Branch of Central Bank of India Ltd., offered for sale - 2,000 No. of equity shares of Comp. at a prem. of Rs.70 per share in order to comply with the listing requirements of the stock Exchange, Mumbai.

- At the time of incorporation, the Comp. had 3 classes of shares viz., `A' ordinary, `B' Ordinary & preference.

1973

- 3,75,000 bonus equity shares issued in the prop. 1:1.

- 95,588 No. of equity shares issued at Rs.175 per share of which 48,000 shares issued to Financial Institutions against conversion of loan from them & 47,588 No. of equity issued as right shares to members other than Robert Bosch GmbH in the prop. of 3:20, - Rs.40 [Rs.25 on capital Acc. & Rs.15 as share prem.s] was called up. Further calls payable were Rs.50 [Rs.25 on capital Acc. & Rs.25 as share prem.s] [31st August 1974s], Rs.50 [Rs.25 on capital Acc. and Rs.25 as share prem.s] [30th December, 1974s], Rs.35 [Rs.25 on capital account & Rs.10 share prem. [30th August 1975s].

1976

- 4,22,794 bonus shares issued in prop. 1:2.

1980

- A letter of intent was received for an expansion of manufacturing capacity.

1982

- 6,34,191 bonus equity shares issued in prop. 1:2.

1985

- A letter of intent for diversification into auto electricals was received & approval for import of capital goods was also obtained.

1986

- Sales turnover registered only 7.3% growth due to recessionary trend. Both commercial vehicle & tractor production dropped.

- 19,02,573 bonus equity shares were issued in prop. 1:1.

1987

- Under the modernisation programme, the Comp. added a number of new machines both at the Bangalore & Nasik factories. Also a fourth generation on-line computer facility was installed at the Bangalore factory.

- The Government of India approved the enhancement of licenced capacity of multicylinder pumps & nozzle holders to 2,65,500 nos. and 24,80,000 nos. respectively.

- A letter of intent was received for manufacture of additional 165,000 elements & 215,000 delivery valves for meeting export orders.

- Also, a letter of intent was received for manufacture of additional 120,00,000 each of elements & delivery valves to cater to spares market.

1988

- The Comp. was awarded the status of Trading House.

- Improvement in communication facilities had been effected through modernisation of telephone & telex equipment.

- A `Cold Start' facility enabling testing of engine at temperature as low as -20oc was added to the unit. The Centre was appointed as a Bosch Global Development Centre with the global responsibility for design & development of small single cylinder pumps for entire Bosch Group. The centre had already developed a new type of single-cylinder pump for vehicular & stationery applications.

1989

- The market for single-cylinder pump remained sluggish due to shortage of pig iron, credit squeeze etc.

1991

- Approvals were received to increase production of fuel injection equipment & parts thereof, for spark plugs at Naganathapura and Nozzle at Nasik factory.

- Technical collaboration agreements were entered into for the manufacture of fine horning machines & super finishing machines.

1992

- Sales of original equipment were adversely affected due to recessionary trends in the automobile sector.

- The Comp. introduced certain new items such as halogen bulbs, ignition cells, horns, voltage regulators, cluth plates & clutch cover assemblies for automobile sector.

- A technical collaboration agreement was entered into with Witzig and Frank Turnatic GmbH for mechanical machining systems. - Another agreement was entered into with Robert Bosch GmbH, West Germany for manufacture of bag form fill & sealing machines It was also planned to manufacture portable electric power tools with technical collaboration from Robert Bosch GmbH.

- The Comp. was awarded the ISO 9001 certification by Technischer Ueberwachungs-Verein, Germany.

1993

- Sales, particularly in the commercial vehicle & the tractor sectors were affected due to continued recessionary trends in the automobile industry.

- The Comp. introduced new automotive accessories such as stop-and-tail lamps, fog lamps, new varieties of horns.

- In the All-India Skills Competition held by Government of India, the MICO Vocational Centre received the 'Best Establishment Award' for the 12th time.

1994

- Motor Industries Software Services limited [MISSLs] & Motor Industries Trading limited [MITLs], which became subsidiary companies from 25th July.

1996

- The Comp. has entered into a Memorandum of Understanding with the Government of Rajasthan to set up facilities near Jaipur for the manufacture of auto ancillaries/auto components including Fuel Injection Equipment.

- Dr. Wolfgang Hugo & Dr. Eberhard Baltin retired from the Board as Director with effect from 17th June.

- Dr. Hermann Eisele whilst continuing on the Board, ceased to be Chairman from 18th June, & Mr. Hubert Zimmerer was elected in his stead. The Board acknowledges the contribution of Dr. Eisele as Chairman & welcomes Mr. Zimmerer as Director & Chairman of the Board.

1997

- The Comp. launched the state-of-the-art Blaupunkt range of car audio systems in June.

- All the three plants of Comp. at Bangalore, Nashik and Naganathapura have been awarded the QS 9000 certificate by TUV, Essen.

- Dr. H. Bertling was redesignated as Managing Director & Mr. J.L. Pasricha & Mr. D. Schalomon were redesignated as Joint Managing Directors with effect from 19th September.

1998

- The Comp. has become a market leader for Electrical Power Tools and accessories.

- In 1997 & 1998, three apprentices trained at the Nashik plant won silver medals at the Regional Skills competition.

1999

- The Comp. is proposed to revive the offer for buy back of up to 200,000 No. of equity shares at Rs. 4,200 per equity share.

- Dr. H. Eisele retired from the Board with effect from 24th June.

- The appointment of Mr. Nobis as Joint Managing Director from 17th December.

2000

- Andreas Nobis has been appointed as the new Managing Director of Motor Industries Co. limited with effect from 1st July.

- Due to a deprecssion in the automobile sector, MICO is introducing a five-day working week in its plant, with the drop in sales to original equipment manufacturers.

- The Comp. has decided to introduce a five-day working week in its Bangalore plant with immediate effect, due to low demand from its customers in the tractor & commercial vehicle industry.

- Motor Industries Co. [MICOs] has received the approval of shareholders to buyback upto 2 lakh shares from the existing shareholders.

- The Comp. has approved & recommended to shareholders for their approval to buyback up to 2,00,000 No. of equity shares of company from existing shareholders on a proportionate basis through Tender offer or from the open market aggregate not exceeding 5.55% of the existing paid-up equity capital of Comp. to be financed out of the free reserves of company, at a maximum price not exceeding Rs. 4000/- per equity shares such that the aggregate consideration for the shares bought back do not exceed 25% of capital & free reserves of the company.

- M Lakshminaryan has been appointed as the new joint managing director of Mico with effect from 1st October.

- The Comp. has fixed the price for buyback of equity shares of the company at Rs. 3800/- per equity shares.

2001

- MICO, the automotive ancillary company, has decided to suspend work for five days from June 18. The company, in an official announcement on June 13, said the adverse business situation & curtailment of orders by customers had necessitated this step.

2002

-Motor Industries Comp. Ltd., has postponed its investment worth Rs.250cr because of delay in implementing Euro II emission norms in the country.

-MICO has completed its buyback programme of 200,000 equity shares for the total cost of Rs.50cr.

-MICO Launched India first Bosch Car Services Workshop[BCSWs] in Delhi & has entered into car servicing business.

-Nearly 5% of MICO workforce opted for an early voluntary retirement scheme.

-Motor Industries Comp. Ltd has launched new range of products consisting of in-car multimedia systems, the San Fransisco CD-70, in-car MP3 player & 'velocity' range of amplifiers,speakers & sub-woofers.

-The Industrial Equipment Division, MICO-Bosch Division has developed endurance testing equipment for Timken.

-MICO Ltd has informed BSE that the MICO Bangalore Plant will have a 5-day working week.

2003

-MICO Board has appointed Dr.Albert Hieronimus as Additional Director & Managing Director of company.

-Mico Employees Association has gone on an indefinite strike for an inconclusive talks with the management.

-Motor Industries Comp. Ltd has informed that Company Spark Plug manufacturing activitiy at Naganathapura works has been discontinued.

-Bosch Security Systems launched Network Video Solutions, a Video Solutions, a video surveillance system that allows remote monitoring over IP [Internet Protocols] networks.

2004

-Bosch rolls out new surveillance system

2005

- Bosch moves production of key products to MICO plants in India

-Mico launches 30 millionth PF pump

2008

- Comp. name has been changed from Motor Industries Comp. Ltd to Bosch Ltd.