International Combustion (India) Ltd share Price

International Combustion (India) Ltd, promoted by International Combustion (Holding) (ICHL), UK, which was taken over by Northern Engineering Industries, was incorporated as a private limited company. It was a 100% subsidiary of ICHL till 1974 when it became public thereby reducing the foreign shareholding to 60%. It then acquired its present name. The foreign holding was further diluted to 39.12% in 1978. Acting initially as agents for ICHL`s products (boilers and mineral beneficiation equipment), ICPL set up a plant in 1963 to manufacture capital equipment like grinding mills, mechanical vibrators, small-size feeders, pulverisers and pumps, etc, for the mineral beneficiation industry, and core sector industries like thermal power plants, steel plants, fertiliser plants, etc. ICIL took up the manufacture of iron castings in 1975 as a backward integration measure, and later diversified into polyurethane and rubber screen decks and liners. The product range was further widened to include industrial gear boxes and geared motors, which are being manufactured in technical collaboration with Eberhard Bauer, Germany. Other technical collaborators of the company are Carl Schenck, Germany; Tredomen Engineering, UK; ABB Raymond, US; etc. A new licence agreement with Mogensen, Germany, has been finalised, to manufacture flip-flop screens which are highly specialised equipments used for grinding limestone, lignite, etc. In 2000-01, the company has formed a licence agreement for manufacture of Omni Screens with technology from IMS Engineering (Pty) Ltd., South Africa. In 1995-96, the company entered into a new licence agreement with Bauer, Germany, for extending the range of gear boxes and geared motors. It also finalised an agreement with Uniroyal Chemical, US, for jointly developing various specialised polyurethane products. In 1996-97, girdle pocket elevator was installed with a capacity of 20 numbers. The operations at ICL`s Santhoshpur unit, supplying grey iron castings to other units, has been suspended with effect from 14th April, 1999 as it has become unviable due to declining demand. The company`s bauer division has been certified survelliance audit ISO 9002 by IRQS of Holland. The company entered into a new collaboration agreement with Gummi Kupper GmBH & Co,Germany for manufacture of `Clamp-on Modular Screen Deck System` of Rubber & Polyurethane.