Incorporated as a private limited company in Mar.'86 and converted into a public limited company in Aug.'94, Condequip Engineers (India) was promoted by W A Fernandes and Joseph A N D'Souza. The company is engaged in the manufacture of construction machinery and equipment at its plant located in Kandivli, Bombay. In 1994, the company entered into a manufacturing collaboration with Jetpatcher Corporation, New Zealand, to manufacture mobile mechanised pothole repair machines. Condequip signed a MoU with Marini, Italy (world leaders in asphalt plants, paver finishers, road rollers and other equipment), in 1995, for the manufacture of asphalt plants above 50 tph and pavers for the domestic and world markets. In 1995-96, the company proposed to expand and upgrade its plant for manufacturing road construction equipment with latest technology. The major new products which are to be manufactured are auto batch hot mix plant, micro asphalt paving machine, hydrostatic paver, jet patcher for mechanical pothole repair and front discharge transit mixer. It came out with a public issue in Mar.'96 to part-finance its project. During the year 1998-99, company's networth is erroded by morethan 50%, Company decided to inform the BIFR Board about the fact of the company has become a sick unit.