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AIA Engineering Ltd.

BSE: 532683 Sector: Engineering
NSE: AIAENG ISIN Code: INE212H01026
BSE LIVE 15:40 | 23 Jun 1380.20 -5.90
(-0.43%)
OPEN

1372.00

HIGH

1395.20

LOW

1368.50

NSE 15:31 | 23 Jun 1381.85 -3.10
(-0.22%)
OPEN

1379.80

HIGH

1397.20

LOW

1366.00

OPEN 1372.00
PREVIOUS CLOSE 1386.10
VOLUME 109792
52-Week high 1641.00
52-Week low 968.70
P/E 31.19
Mkt Cap.(Rs cr) 13,015
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1372.00
CLOSE 1386.10
VOLUME 109792
52-Week high 1641.00
52-Week low 968.70
P/E 31.19
Mkt Cap.(Rs cr) 13,015
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

AIA Engineering Ltd. (AIAENG) - Company History

AIA Engineering Ltd is a certified ISO 9000 company, specializes in design, development, manufacture, installation and servicing of high chromium wear, corrosion and abrasion resistant parts used in cement, mining and thermal power generation industries. The company has a global presence in terms of sales and service offices across the world. Outside India, the company sells under tha brand name Vega. AIA Engineering Ltd was incorporated on March 11, 1991, with the name Magotteaux (India) Pvt Ltd. On November 4, 1978, Ahmedabad Induction Alloys Pvt Ltd, promoted by Mr Bhadresh K Shah was incorporated. This company was merged with AIA Engineering on April 1, 1991. The name of the comany was changed to AIA Magotteaux Pvt with effect from May 11, 1992. The name of the company was further changed to AIA Engineering Ltd on May 2, 2000 due to the termination of joint venture with Magotteaux International S A, Belgium. In the year 1995, the company made a technical collaboration with Southwestern Corporation (SWC), USA for process improvement in Raymond mills. In the year 1997, they associated with Alstom for process know-how for Stein designed mills for power plants. In September 2003, AIA Exports Pvt Ltd merged with the company with effect from April 1, 2002. In the same year, they acquired the 100% stake in Vega UK through Vege Middle East, thereby making all Vege companies a wholly owned subsidiaries. During the year 2003-04, a wholly owned subsidiary in the name of Vega Industries (Canada) Inc was incorporated in Canada. On December 31, 2004, the company acquired entire business of Gray Cast Foundry Works (GCFW), a partnership firm and the manufacturing Division of Centricast Enterprises Pvt Ltd (CEPL). In 2005-06, the company has increased the production capacity of Castings by 1800 MT to 18600 MT. In 2006-07, they further increased the production capacity by 50000 MT to 68600 MT. In January 2007, the first phase of EOU division has commenced the trial production at their Greenfield Manufacturing facility at Moraiya in Ahmedabad. The Company is in the initial stage of setting up of a Captive Power Plant and a Ferro Chromium plant for capitive consumption and backward integration respectively. Also the company plans to set up a high Chrome Mill Internals unit of capacity 100000 TPA . From February 2008, PCCL has become a 100% Subsidiary of the company.