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Heatshrink Technologies Ltd.

BSE: 522130 Sector: Engineering
NSE: REPLENGINE ISIN Code: INE966B01012
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Heatshrink Technologies Ltd. (REPLENGINE) - Company History

Incorporated as Raysif Engineering Pvt Ltd in Jun.'79, later on got its name as REPL Engineering (REL) in Jul.'90. Promoted by Homi R Patel REL manufactures and trades in heat-shrinkable cable jointing kits for the telecom and power industries. It manufactures these products in Bombay, Budapest (REPL VSZM) and Kuala Lumpur (REPL Malaysia). It has entered into a technical collaboration with Associated Telecom Services, for the continuous cross-linking process - a vital stage in the manufacture of heat-shrinkable cable joints. REL went public in Jul.'92 to part-finance its expansion-cum-modernisation plans to raise the cable jointing kit manufacturing capacity from 2.36 lac pa to 4.16 lac pa. Of the twelve modules which enable the company to manufacture different types of joints, ten commenced commercial production in stages beginning Aug.'92. REL diversified into the field of optical fibres and has entered into a joint-venture agreement with Elf Lubricants, Paris, to manufacture and market the latter's range of lubricants. The company has reached an understanding with Bonus Energy, Denmark, for full technical/marketing/manufacturing support for wind farm projects. In 1995 REL in collaboration with Taicom Data System Company, Taiwan, has come out with a new project of digital pair gain system. During 1997, the company abandon the Fibre Optic Cables project at Dubai and the power projects because of lack of clarity of the government's liquid fuel policies and also delays in clearence by the authorities. The company's overseas joint ventures i.e. REPL VSZM Kft, Hungary and REPL (Malaysia SDN BHD) is facing serious liquidity problem. However, during the year 1999, the company got an export award from the Ministry of Commerce for the highest export of the Heat Shrink Division. During 2000, the BIFR concluded its hearing against the reference filed by the company under SICA as the reference was based on the accounts of the company for the year ended on 31.12.1997 and accordingly observed that the company was not a sick company under the provisions of SICA. However, the company has made a fresh reference to BIFR under SICA based on its accounts for the year ended on 31.12.1999 and the same is pending with them. In the year 2003, the name of the company was changed to Heatshrink Technologies Ltd.