Hercules Hoists Ltd

Hercules Hoists Ltd

Hercules Hoists Limited a Bajaj Group of Company was incorporated in Jun' 1962. The Company manufactures material handling equipments such as Chain Pulley Blocks Chain and Wire Rope Electric Hoists Ratchet Hoists Winches Traveling Trolleys Storage & Retrieval Cranes Roll-out Racks Light Profile Crane Systems Pulling and Lifting Machines H.O.T./E.O.T./Jib Cranes Floor Operated Stacker Cranes and Stores Stacker Cranes. The Company supplies products to various industries such as iron and steel cement oil and gas chemicals construction material handling equipments' manufacturers state electricity boards turnkey solutions providers etc. wherever unit loads are moved. The Company is also marketing Shrouded Conductors of AKAPP Netherlands. In 2000-2001 the company completed the development of new range of Chain Electric Hoists and Ratchet Lever Hoists. Both the products are expected to do well in the export and domestic market. The company is also developing new range of Wire Rope Electric Hoists jointly with M/s Bull S.r.l. Italy. With effect from February 1 2001 the company's agreement with M/s Batliboi Ltd for the 50:50 Joint Venture marketing company 'Indef Marketing Services Ltd' was terminated and Hercules Hoists bought over their 100000 shares at the face value of Rs.10.00 and paid a compensation of Rs.1 crore towards exiting from the JV and non-competition by them for a period of five years. Thus the 'Indef Marketing Services' become a wholly owned subsidiary of the company with effect from 23rd March 2001.M/s. Indef Marketing Services Limited Company's subsidiary was amalgamated with the Company during the year 2005. The Company commissioned a new business of Wind Energy in Dhule District of Maharashtra and resulting to this the turbines became operative from 25 March 2005. The fourth Windmill was installed in July 2006 in Dhule which increased the installed capacity to 5 MW.