STI Products India Ltd

STI Products India Ltd

STI Products India was incorporated on 22 Oct.'73 in the name of Steel Pipes Of India and subsequently in 1993 the name was changed to STI Products India. The company promoted by Dr R B Baheti and Mr K N Garg is a part of the Steel Tubes of India group. Though the company was incorporated in 1973 practically no activities were carried out till 1986. Earlier the company was into the manufacture of steel pipes and later on the product mix was broadbased by diversifying into the manufacture of automobile tensioner and water pump bearings at Bangalore. The diversification project was financed through a public issue made by the company in Sep.'94.The company has installed a new tubemill in order to expand the capacity to manufacture ERW precision steel tubes of popular sizes. The diversification project for the manufacture of automobile tensioners went into production in early 1995.The company intends to go in for a reverse merger with STI Granite a group company to make it into a multi-product company.During 1995-96 the Tensioner Division of the company got ISO 9001 and Tube Division is expected to get ISO 9002 Certification. The companies Board Of Directors recommended amalgamation of your company with M/s STI Granite India Limited as per the amalgamation term in the Extra-Ordinary meeting held on 14th June 1996.During 1995-96 the company has earned in foreign exchange worth Rs. 1.35 cr.