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Andhra Pradesh Scooters Ltd(liquidated).

BSE: 505021 Sector: Auto
NSE: N.A. ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Andhra Pradesh Scooters Ltd(liquidated). (APSCOOTERS) - Company History

Established in 1974, Andhra Pradesh Scooters (APSL) a public sector undertaking owned by the government of Andhra Pradesh, manufactured scooters and marketed them under Allwyn Pushpak and Vijay brand names, with technical knowhow from Scooters India, another public sector undertaking. These models failed in the market and the company ran into trouble and losses mounted. Later on, the company entered into a technical collaboration with Piaggio, Italy, to manufacture Vespa -- 100cc, 80cc and mopeds. These models also failed to capture the market. The company was operating at a capacity below the optimum level and its financial performance was seriously impaired. It became a sick unit. Several steps taken to revive the company failed miserably. Measures were taken by the government to privatise the company. It was put on sale by the BIFR, but the response was lukewarm. BIFR has concluded that the factory cannot he rehabilitated and there is no other alternative than to wind-up the company.