Aluminium Industries Ltd share Price

Incorporated in 1946, Aluminium Industries (AIL) was formed to manufacture plain steel covered aluminium conductors for electrical overhead transmission purposes, accessories and fittings, alluminium transmission lines, general utility aluminium wire and aluminium alloy castings. The company`s products are sold under Alind brand name. In 1985-86, AIL entered the electrical contracting field. In 1992-93 its Kundara division developed a special alloy conductor. In 1976-77, a technical collaboration agreement was signed with Delli-Alsthom, France, to manufacture 132 kV and 220 kV circuit breakers and current transformers. The static relays project was commisssioned in Jan`82. In the switchgear division at Mannar, the company had taken up the implementation of the project for the manufacture of switchgear in collaboration with Alethom Atlantique. Another project was also taken up for the manufacture of wear resistant and alloycastings at Lingampalli, Hyderabad, in technical collaborations with Firth Brown Castings, UK. In 1984-85, the company obtained a licence for the manufacture of vaccum circuit breakers in collaboration with Meidensha of Japan. During 1987-88, the company came under the provisions of Sick Industrial Companies (Sp.Provisions) Act, 1985 and a reference was made to BIFR. BIFR finalised rehabilitation scheme submitted by IRBI in Oct.`89 which was being implemented from 1 Nov.`89. As per the approved scheme, the Somani group and banks inducted Rs 300 lacs and Rs 1,050 lacs respectively into the company. Koylon Trading & Agencies is the wholly-owned subsidiary of the company. A company under the name Alind (Nigeria) was incorporated in Nigeria for the manufacture of condcutors and cables.