Hindustan Wires was incorporated in 1959. It is engaged in the manufacture of high tensile spring steel, galvanised, hard, bright and annealed wires, wire ropes and other allied products.
Kobe Steel Works and its subsidiary Shinko Wire Co, Japan, were the company's collaborators for the manufacture of tyre bead wire and other high tensile wires. Shinko Wire Co and Okura Trading Co, Japan, were the company's technical collaborators for the manufacture of specialised wires such as cycle spoke, high tensile, galvanised signal spring steel, cable armouring and profile.
During 1981-82, a plant was set up with a capacity of 6,000 tpa of high tensile wire at Faridabad. Another plant to manufacture 1,00,000 LPG cylinders pa, was also commissioned during the year. During 1982-83, an automobile tyre bead wire plant was commissioned at Faridabad.
In 1984-85, a unit was set up for manufacture of 4 lac tpa of LPG cylinder valves. Also, another plant with an installed capacity of 1 lac LPG regulators was commissioned. The company modernised and upgraded its plant for LPG cylinders, valves, and regulators in order to meet the increased demand of these products by oil companies and private sectors.
During 1999, the entire networth of the company was eroded on account of continuous losses and hence the company has made a reference to BIFR as per SICA 1985, for a sick company. The board has appointed ICICI as the operating agency for rehabilitation. The company's plant at Faridabad is under lockout since 7th February,2003 due to some illegal activities by the workmen.