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Promoted by Fibreglass, UK, and Bombay Company Pvt Ltd, under the name Fibre Glass Pilkington, the company was renamed Fibreglass Pilkington on 27 Jun.'63. It acquired its present name on 15 Apr.'82 after a public issue resulting in the dilution of the foreign collaborator's stake, making it a non-FERA company. The name of Fibreglass, UK, was also changed to FGP Holdings, subsequent to the disinvestment of Pilkington, UK, the ultimate holding company. FGP manufactures a comprehensive range of glass fibres that are used in agriculture, railways, chemicals, transport, electrical items, oil and boat building. It expanded its installed capacity by acquiring the glass division of CEAT on 29 Jun.'93. The company came out with a rights issue in Aug.'95 to solve its liquidity crunch and finance its modernisation projects. Its Hyderabad plant is the only unit in the Indian fibreglass industry enjoying ISO 9001 Certification. Company has privately placed long term Non Convertible Debenture with Institution/mutual Fund to the tune of Rs.7.50 Crores to augument the ongoing operations of the Company. During the year 2000-2001 the company had started running its Business Centre business and it had developed the Business Centre in two phases. |
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