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NLC Nalco India Ltd.

BSE: 524101 Sector: Industrials
NSE: NALCOCHEM ISIN Code: INE582A01019
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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NLC Nalco India Ltd. (NALCOCHEM) - Company History

Ondeo Nalco(formerly Nalco Chemicals India), incorporated on Dec 16, 1987 as IEL, a subsidiary of Imperial Chemical Inds, UK is engaged in the business of oil field chemicals water treatment chemicals (5000 tpa) and industrial additives / process chemicals. The company's plant at Rishra was commissioned in Mar.'90. The present company acquired the water treatment chemicals business from IEL in Sep.'88 with participation from Nalco Chemical Company, US. In 1995-96, Nalco, US, acquired a majority stake (80%) in the company by acquiring shares from ICI India, as per the joint venture agreement. Consequent to this acquisition, the company became a subsidiary of Nalco, US. In 1998-99, it increased its stake to 80%. During the year 1999-2000, Nalco Chemical Company, USA, the company's parent company was acquired by Suez Lyonnaise des Eaux French conglomerate who are strong in the infrastructure sector and hence the company has become a subsidiary of Suez Lyonnaise des Eaux and it is expected that there will be high degree of synergy in operation with the other group companies. The main markets for the products of the company are the steel, fertiliser, mining, oil production, refining, petrochemicals, paper and sugar industries and manufacturing units. The company recently introduced process chemical for the paper and pulp industry, which reduces the pulp consumption and improves the finish of the end product. It also launched a unique control and diagnostic system. Nalco has established a 50:50 joint venture with Exxon Chemicals -- Nalco Exxcon Energy Chemicals, to serve the oilfield and refinery process markets. In 1999-2000, NCIL had acquired the Chennai-based Aqua Chemicals & Systems(Mfg) Ltd and Pune-based Aquazur India Ltd. NCIL, which is on a fast-track expansion mode, has entered into an arrangement with Degremont India Ltd (DIL), a wholly-owned subsidiary of SLDE, for sharing execution of water treatment contracts in India. This move was intended to bring about greater synergy among the Suez group companies working in India. NCIL was also working out similar arrangements with the Indian operations of Tractabel of Belgium and Lyonnaise of France, both wholly-owned subsidiaries of SLDE. The arrangements ensures mutual benefits through leveraging specific expertise of the different group companies. During 2000-2001, the Company's Parent Company changed its name to Ondeo Nalco Company and the brand Ondeo is being launched as a mega brand for all water related business throughout the world. Subsequently Nalco Chemicals India was also renamed Ondeo Nalco India. The merger between Aqua Chemicals and Sytems Limited was completed in March 2003. The merger of Aquazur India Pvt Ltd., a 100% Subsidiary with itself has become effective from Jan 1, 2004.