Gujarat Cypromet was originally incorporated as Neo Cyprian Extrusions Pvt Ltd in Dec.'92. Subsequently, the name was changed to Gujarat Cypromet Pvt Ltd and the company became public in 1994. It was promoted by N P Mehta, K N Mehta and C A Shah, jointly with the Gujarat Industrial Investment Corporation. The company came out with its maiden public issue in Mar.'95. The company manufactures non-ferrous metal pipes and tubes. It had setup a plant with an installed capacity of 7200 tpa to manufacture tubes, rods, strips and sections of copper and copper alloys, using the underwater extrusion process obtained through a technical agreement with Marubeni Corporation, Japan, which has agreed to buy back 15-20% of its production. These products are used in industries like petrochemicals, oil refineries, power generation and energy distribution, telecommunications, general engineering, air-conditioning and refrigeration, food processing and cold storage and, electricals and home appliances. It's Expansion project for manufacturing small diameter rods and wires (Cap:4000mt), with an outlay of Rs.15 crores is under implementation, the company has imported additional equipments under export promotion capital goods license. The project is still underway and expected to be completed in 2002.