Simplex Realty Ltd

Simplex Realty Ltd

Incorporated in Nov.'12 to set up a composite textile manufacturing unit in Bombay The Simplex Mills (SML) was initially managed by Allen Brothers & Company (Bombay). In 1932 the managing agency was taken over by Forbes cambell & Company. In 1960 S R Damani took over the management. At the time of the takeover SML was manufacturing and selling only unprocessed grey cloth. Immediately after the takeover the company set up a process house and gradually started manufacturing a whole range of shirtings sarees dress materials etc. SML set up one more composite textile unit at Akola in 1974. The unit was put up to manufacture tyre cord fabric and grey canvas of different area densities. In 1981 SML diversified its operations by setting up a paper mill in Gondia Maharashtra to manufacture writing and printing paper. The company went public in Sep.'92 to part-finance its modernisation programme. The company has transferred its Paper & Paper board division to its subsidiary Simplex Paper & Pulp Limited.The company is in the process of restructuring and a scheme is being submitted to the GovernmentFinancial Institutions and Banks. The installed capacity of Spindles and Looms was decreased to 27336 and 206 Nos respectively as on March2001.In 2005the company has decided to demerge its paper & textile divisions and as per the scheme of arrangementthe paper division has been transferred and vested to Simplex Paper & Pulp Ltd(new resulting company) and the textile division has been transferred and vested to Gaalaxy Garments Ltd(new resulting company).The remaining business will be continue to belong to and be vested in and be managed by the company.