Swiss Military Consumer Goods Ltd

Swiss Military Consumer Goods Ltd

Network was incorporated on 25 Jan.'89 as Network India and acquired its present name in Nov.'90. The main promoters are technocrats Shiv Nadar and A K Dang. The company manufactures and sells electronic typewriters consumables and provides after-sales services. It also manufactures ultra-sound scanners and copiers. The company has a collaboration with Canon Japan and Medison Company South Korea for transfer of technology and for manufacture. The company has 18 regional offices located all over India. Its products are sold directly to customers.The company came out with a public issue of partly convertible debentures in Jan.'92 to meet long-term working capital requirements.In Jan.'94 the company received the ISO 9001 quality certification from RWTUV Germany for its design manufacturing purchasing training sales marketing and service functions. The company has decided in 95=96 that the business of health care equipments would be focussed through specific joint-venture with M/s Picker Inc USA on 50:50 basis In 1999-2000 the Company issued and allotted 5575000 Equity Shares of Rs. 10/- each at a premium of Rs. 35/- per share on preferential basis to Promoter Group & Associate Companies with the intention of extinguishing the outstanding Liabilities to the maximum extent possible.