Incon Engineers Ltd share Price

Incon Engineers (Incon) was incorporated in Feb.`70 as a private limited company. Promoted by the late G S Chowdhury, a renowned engineer and scientist, the company was converted into a public limited company in Oct.`94. It is engaged in the business of supplying technical know-how, drawings and to a limited extent, turn-key supply of gas plants, chemical plants, etc. From time to time, the company has also executed turnkey projects for gas plants and welding electrode manufacturing plants. Fluid Energy Systems (FES), a sole proprietorship firm owned by Sreedhar Choudhury, was acquired by the company, to inrease its manufacturing capabilities and also to reduce the implementation time of setting up a new project. FES was in the business of manufacturing fluid energy mills, chemical process equipment, gas plants, etc. In 1995-96, the company undertook an expansion-cum-diversification project involving the expansion of its present manufacturing base to increase its activity in the existing business of chemical process equipment and entering into the field of manufacture of cryogenic tanks used for storage and transportation of liquid oxygen, nitrogen, etc, in technical collaboration with Taylor Wharton Asia (M) SDN.BHD, Malaysia; and also diversify into the manufacture of agricultural machinery and accessories, in technical collaboration with Jiashan Tractor Factory, China. The project is located in Hyderabad. The company came out with a public issue in Jan.`96 to part-finance the project.