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GWL Properties Ltd.

BSE: 508809 Sector: Infrastructure
NSE: N.A. ISIN Code: INE595C01025
BSE 05:30 | 01 Jan GWL Properties Ltd
NSE 05:30 | 01 Jan GWL Properties Ltd

GWL Properties Ltd. (GWLPROPERTIES) - Company History

Gordon Woodroffe was founded in 1868 as a partnership firm by H.E. Gordon and Mr. G.W.P. Woodroffe. The name was changed to Gordon Woodroffe Ltd. with effect from 9th April 1980. The major activities since inception were shipping dealing in East Indian products particularly in dressed hides and skins popularly known at East Indian Semi tanned leathers and all other forwarding cargo superintending etc. In 1928 the Company undertook the manufacture of chrome tanned finished leathers and started producing finished leathers ready for making shoes/footwear and fancy leather and travel goods. This manuacturing acitvity was carried on by a subsidiary company under the name of Gordon Woodroffe Leather Manufacturing Co. Ltd. In 1968 this subsidiary was merged with the Company.The company was declared Sick and BIFR gave its approval for the scheme of rehabilitaion. In June 1989 the Company signed a term loan agreement for funds for modernisation and expansion of the leather division with IRBI the operating agency. The loss making leather manufacturing business was phased out during the year and all the workmen in the division were opted for VRS. The tannery finally closed down during the year 2001-02.As part of business restructuring excercise services division of the company comprising of the international freight forwarding customs house agency and other related services were transferred to Gordon Woodroffe Logistics Ltd a wholly owned subsidiary of the company. The company is in the process of developing some of its properties for commercial exploitation.