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Avon Corporation Ltd.

BSE: 532995 Sector: Engineering
NSE: N.A. ISIN Code: INE207I01016
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
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Avon Corporation Ltd. (AVONCORPORATION) - Company History

Avon Weighing Systems Pvt Ltd was incorporated on 04/03/1999. The main objects of the Company in brief were to 1) to acquire the business of Avon Enterprises and 2) to carry on the business of manufacturing, assembling all kinds of weighing instruments etc. In the year of 1995, a young first generation entrepreneur Mr. Pankaj Saraiya promoted a partnership firm (Avon Enterprises). During its first year of operations Avon Enterprises was engaged in the dealership of Sartorius (Germany) range of weighing balances mainly used in Diamond industries. Sartorius is one of the major manufacturers of various kinds of electronic weighing balances/systems in the world. In the beginning of 1996, A&D Company Japan (`A&D'), one of the major weighing systems producer in the world, appointed Avon Enterprises as itsIndian distributor. Avon is the authorized dealer and one of the distributors of Tanita's weighing systems in India. M/s A&D Company Ltd. (A&D), Japan and Tanita Corporation (Tanita), Japan both are weighing scale manufacturers in the world in their range of products. A&D balances are particularly used in industries where precision weighing is critical; e.g. gems and jewellery, pharmaceuticals and chemicals, research and development laboratories, defense, etc. Presently Avon is also carrying assembly work as per client's requirement after importing all the parts from A&D and Tanita. To improve the margin, the Company now proposes to enter into the business of manufacturing of weighing system in India with the technical help of Tanita. The Company will manufacture certain Tanita products out of its entire range of products to cater the growing demand of digital weighing systems in India. On installation of the project, production will start with the help of technical know-how of Tanita and products will be sold in Indian market in their brand name 'Tanita'. The Company has no patent rights to manufacture Tanita's products. Besides this other products of Tanita will also be marketed by Avon.