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Tai Chonbang Textile Industries Ltd.

BSE: 514464 Sector: Industrials
NSE: N.A. ISIN Code: INE913B01014
BSE 05:30 | 01 Jan Tai Chonbang Textile Industries Ltd
NSE 05:30 | 01 Jan Tai Chonbang Textile Industries Ltd

Tai Chonbang Textile Industries Ltd. (TAICHONBANGTEX) - Company History

Incorporated on 19 Aug.'93 Tai Chonbang Textile Industries (TCTIL) was promoted by Tai Industries India (a company floated by the Tashi group of Bhutan) and Tashi Commercial Corporation in association with Chonbang Company and MES Corporation both of South Korea. The company is managed by Chairman Dashu Dorji and Managing Director G C Bhura.TCTIL came out with a public issue aggregating Rs 9 cr in Oct.'94 to part-finance the company's 100% EOU to manufacture 20s carded and 30s combed 100% cotton yarn and to augment margin money for working capital. The total cost of the project was Rs 27.35 cr. The products of the company include carded and combed cotton yarn. TCTIL has entered into a buy-back agreement with Chonbang Company South Korea at the prevailing international price for a minimum period of five years. The company has exported its products to Korea and Bangladesh.The company has diversified its activities by entering in the field of manufacturing development and marketing of computer software. Also during the year 1999-2000 the company has secured registration as ISO 9002 for its quality system under the American National Standard Institute American Society issued by KPMG Peat Marwick Quality Registrar.The Power Generation sets which was imported from Germany has commenced commercial operations after having some intital teething troubles.The company has obtained permission from Kandla Special Economic Zone from manufacture 100% Polyester and Polyester/Viscose Cotton Blended Yarn.Trial production have commenced succesfully and it has been sold in DTA market on test basis.The company's Infotech Division under the technical collaboration of Optimos Inc ChantillyVirginia USA has been flagged off and a prestigious order for designing and hosting of website from Kandla Special Economic zone have been obatained. The Infotech Division in association with OPTIMOS India Pvt Ltd was discontinuedas the performance was not done well and also the overall recession in the Infotech Business.The company's Networth was fully eroded and a part of restructuring measure an application has been submitted to BIFR.