History of Clariant [Indias] Ltd.
YEAR EVENTS 1947 - The Comp. was Incorporated at Mumbai. In January, a trading Comp. was registered in India under the name of Sandoz Products Ltd., for sale & distribution of products manufactured by Sandoz, Ltd., Switzerland. The Comp. manufactures & deals in Pharmaceuticals, textile chemicals, dyestuffs, agrochemicals and chemical preparations of all kinds.
1956 - The Sandoz Products, Ltd., obtained permission to establish a new industrial undertaking to manufacture calcium salts, pharmaceutical specialities & Leucophor.
1958 - The Comp. entered into a 10 year collaboration agreement with Sandoz, limited Switzerland, for manufacture of pharmaceuticals and textile chemicals. The Comp. was permitted to use a number of trade marks of Sandoz, Ltd., Switzerland.
1959 - With a paid-up capital of Rs 10 lakhs. The capital was raised to Rs 50 lakhs in 1954 & to Rs 75 lakhs in 1958.
1961 - At the time of incorporation, the name of Comp. was Sandoz Products, limited The name was changed to Sandoz [India Ltd.s] in June. The name was again changed to Clariant [Indias] limited with effect from 1st April, 1995.
1964 - The Comp. entered into another 10 year agreement with Sandoz, Ltd., Switzerland, for manufacture of dyestuffs against reimbursement of actual expenses incurred & payment of sum not exceeding the net annual ex-factory sales [exclusive of freight of dyestuffs manufactured or Rs 2 lakhs, whichever is lesss].
- The Comp. also entered into another agreement with Sandoz., limited Switzerland, for obtaining the know how for manufacture of products under the Phytochemicals Scheme for a consideration of Rs 4 lakhs to be paid to the collaborators in the form of Equity shares.
- The Comp. further agreed to reimburse Sandoz, limited Basle, Switzerland, the actual expenses not exceeding Rs 2 lakhs per annum that might be incurred by them from 1st January, for a period of 5 years for rendering technical assistance to the Comp. for manufacture of Podophyllum extract.
- Shares subdivided in November. 7,50,000 shares then issued by a Prospectus. Out of issue: [is] 2,36,000 shares allotted to Sandoz, Ltd., Switzerland, out of which 1,36,000 shares were allowed for cash. [iis] 75,000 shares allotted for cash Shaw Wallace and Co., Ltd., [iiis] 1,39,000 shares reserved allotment to existing shareholders, Directors, their friends & associates; & [ivs] 3,00,000 shares offered for public subscription in December.
1967 - 275 No. of equity shares forfeited for non-payment of calls.
1968 - 275 No. of equity shares reissued during the year.
1969 - The Comp. acquired 22,500 equity shares of Rs 10 each of Wander, Ltd., a Comp. formed by combining the interest of Sandoz & Wander & in which Dr. A. Wander A.G., Switzerland, held majority shares.
1976 - 3,75,000 Bonus shares issued in prop. 2:5.
1978 - 6,25,000 Bonus equity shares issued in prop. 1:4.
1981 - 10,00,000 Bonus equity shares issued in prop. 2:5.
1984 - The major works included development of processes in basic manufacturing & formulations. Two new products introduced during 1986 viz., Brinaldix & Mellerets are the result of the R&D of Company.
- 10,00,000 Bonus equity shares issued in prop. 2:7.
1986 - At the Khandla Free Trade Zone, a modern multipurpose tabletting plant was commissioned.
1987 - The pharmaceutical division received letters of intent for the manufacture of Thioridazine - a bulk drug & Pindolol a bulk drug & formulation.
- The Chemicals' division received a letter of intent for oilfield, chemicals & an industrial licence for speciality leather chemicals.
- The agrochemicals division received a letter of intent for the manufacture of Fluvalinate Technical, an insecticide & its formulations.
- During February, the Comp. issued, 3,80,000 - 13.5% redeemable convertible debentures of Rs 180 each as rights to the equity shareholders in the proportion of 5 debentures for every 24 equity shares or in multiples thereof held in the Company.
- Another 20,000-13.5% convertible debentures of Rs 180 each were offered to the employees [including Indian working Directorss]/workers of Company.
- Rs 80 out of each debenture was converted into two equity shares of Rs 10 each of Comp. at a premium of Rs 30 per share on 24th October.
- The non-convertible portion of Rs 100 of each debenture would be redeemable by Comp. at par in two equal annual instalments of Rs 50 each on the expiry of 7th & 8th years from the date of allotment.
1988 - Prosan Syrup, a soya-based protein food supplement was introduced during the year.
- In the domestic market `Mavrile' a brand spectrum insecticide was introduced after receiving the permanent registration.
1989 - `Visken' an anti-hypertensive drug was introduced in five selected markets.
1990 - The Dyes and Textile Chemicals division concluded a technical collaboration agreement with Sandoz Quinw Produckte GmbH, Germany for production of leather finishing chemicals.
- The Comp. issued 5,00,000-14% secured non-convertible debentures of Rs 100 each on private placement with a bank, to meet the working capital requirement. These debentures are to be redeemed in full at the face value on 24.7.1988.
- 26,50,000 Bonus shares allotted in propn. 1:2 on 14.12.1990.
1991 - With a view to reducing the working capital, the Company undertook to impose tighter credit policy & in addition increased the proportion of sales of technical grade material to formulations.
- The Comp. took up a seeds & plantlets project, for which technical collaboration agreements were signed with Northrup King Co., U.S.A. & Zaadunie B.V., Netherlands.
- The Comp. undertook extensive trials of group speciality seeds to study their suitability under the Indian agro-climatic conditions.
1993 - The pharmaceutical division proposed to introduced biotechnology based Leucomax for supportive therapy in cancer treatment etc. & Sandoglobulin for treatment of immune deficiency states.
- Ekalux 20 AF a water based formulation with a reduced solvent load was commercialised in Karnataka.
1994 - The Pharmaceutical division proposed to introduce the first synthetic long acting somatostatin analog sandostatin for aeromegaly & tumours of stomach, sirdalud for neurological disorder & Luponex for schizophrenic patients.
- Ekalux 20 AF was introduced in a number of major agricultural areas during the year.
- Several new products were added to the range of speciality Dyes & Chemicals for textile, leather & paper industries.
- During the year a virus resistant tomato variety was introduced & well received in the market. It is proposed to set up a research station at Pune for evolving new hybrid varieties of seeds.
- The agro basic plant was successfully debottlenecked at Kolshet to enable peak production levels within shorter time span.
- A MOU was signed with Bhabha Atomic Research Centre for latest technology on Reverse Osmosis/Nanofiltration membrance process to help improve productivity in the manufacture of Calcium Lactobionate.
- During the year agrochemicals AF Project was commissioned at Panoli.
1995 - Clariant Ltd., Muttenz Switzerland identified Kolshet as one of the manufacturing sites for dyestuff & regional manufacturing site for chemicals.
- The scheme of arrangement between the Comp. & Sandoz Exports [Indias] Pvt. Ltd., was sanctioned by High Court, Mumbai effective from 1st April.
1996 - Liquid sulphor dyes under the brand name 'Diresuls' were introduced New products viz., Bactosol range of enzymes to give stone washed' appearance on jeans, ceraperm range of finishing agent & Elfugins range of products for fibre finishing and Sandolube for sewability improvement were introduced.
- Complete package/process concepts like laundro kwik for laundries/hotel industry & clarispin for processing of polyester fibre were launched.
- Several new products viz. Relca Top and Relca Resin ranges of finishing chemicals were introduced.
- The Spray drier capacity was increased resulting in reduction in cost of drying of dyestuffs.
1997 - New products introduced during the year actively contributed in achieving sales growth despite difficult market condition. The Comp. continued market leadership position in textile chemicals & leather dyes.
- A paper application laboratory was set up to remedy customerised problem. The Comp. test marketed masterbatches for plastics.
- The Comp. has introduced a range of new products for the denim sector.
- The Comp. has introduced series of high value speciality finishing products for textiles.
1998 - The Comp. has introduced its new products successfully in Australia, Columbia & Thailand.
- The Comp. proposes to introduce new product range of pigment & additives for coating, automotive & polymer industries.
- Clariant has entered into a memorandum of understanding with Clea Investor Support Services for administrating the scheme.
- A merger of Colour-Chem & Clariant India is `presently ruled out' & the two companies are jointly identifying areas of synergies & opportunities to enhance shareholder value.
- Clariant India [CILs] was formed to take over the chemicals business of erstwhile Sandoz India in line with the worldwide demerger of Sandoz chemicals business to form Clariant International, Switzerland [CIS, 51% equity stake in CILs].
- Clariant & Ciba Specialty Chemicals, the world biggest makers of specialty chemicals, agreed to unite in a share swap worth at least 8.5 billion Swiss francs [$6.2 billions], creating the dominant Comp. in the global $100 billion industry.
1999 - Clariant [Indias] has received the prestigious Excellence Award for Innovative HR practices.
- The Comp. has clearly focussed on new products & thrust on yield improvement & capital management as a growth strategy despite a slowdown in the economy & sluggish market conditions.
- The Comp. has introduced `Sandolube' & `Ceraperm' range of fibre lubricants & finishing agents & has also introduced a series of products for industrial textiles.
- The Comp. had introduced masterbatches for polycarbonate polymers for first time in India for manufacturing of coloured fashionable opticals.
- The Comp. introduced the concept of customer documentation file, which contains all relevant, up-to-date information regarding the customers existing businesses as well as developing opportunities.
2000 - Clariant [Indias] is setting up a new facility at Kolshet, Thane for manufacturing master batches.
-Clariant India Ltd has achieved a 35.8-per cent increase in net profit for six-month ended September 2001 at Rs 10.7 crore.
2002
-Redesignates Mr B L Gaggar as the CFO & CS of company.
2003
-Chooses India for its Custom Synthesis Project.
-Change in the Registered Office: Paville House, 3rd floor, Off. Veer Sarvarkar Marg, Prabhadevi, Mumbai - 400-025. Tel No: 24323434 , Fax: 24229020.
2006
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