Financial Daily from THE HINDU group of publications
Monday, Feb 18, 2002
Financial Daily from THE HINDU group of publications Monday, Feb 18, 2002 |
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Industry & Economy
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Disinvestment Profile of a bidder Our Bureau KOLKATA: Titagarh Industries Ltd (TIL) is an existing profit-making company, engaged in the manufacture of steel foundry, a host of sophisticated high-quality steel castings for railways, defence, shipbuilding, mining, power generation, petrochemical and earthmoving equipment industries. Besides catering to the domestic market, the company has penetrated overseas markets by exporting to Russia, Malaysia, Sri Lanka, Japan, France, Belgium and the US. TIL was incorporated in 1981 in order to take over the steel foundry division of the erstwhile Britannia Engineering Ltd, which went into liquidation in the late sixties. At present, the company has two business divisions - steel and paper. Of the total authorised capital of Rs 125 crore divided into 7.5 crore equity shares of Rs 10 each and 50 lakh preference shares of Rs100 each, the paid up capital of TIL is placed at Rs 12.4 crore. The company was promoted by a first generation entrepreneur, Mr J.P.Chowdhary, who was actively associated with various chambers of commerce and management associations. He was President of the Confederation of Indian Industry (CII) in 1989-90, President of Indian Chamber of Commerce, Calcutta, in 1993-94 and President of the All-India Management Association, New Delhi, in 1997-98. He was also Sherif of Calcutta in 1995-96. - Our Bureau
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