| GROUP ACTIVITIES |
The Group consists of the following companies:-
1) ARC Holdings Ltd.
2) Allied Resins & Chemicals Ltd.
3) Classic Furniture Mfg. Co. (P) Ltd.
4) Allied Maritime Services Ltd.
5) Zhejiang Allied Chemical Ltd. (25%)
6) Uniscope India
Here are the details
1) ARC Holdings Ltd., established in the year 1987. As the name indicates it is a holding and investment company and recently gone into real estate business. This company owns 37 acre (15 hectare) of land in the suburb of Calcutta. It has conceived 3 million sq.ft. of middle income housing project worth USD 100 million.
2) Allied Resins & Chemicals Ltd., established in 1959 having two (2) manufacturing units and its own terminal, recently gone into tripling its resin capacity. Market value of its assets including surplus land is around USD 70 million.
Sometime back, the company went into a rough weather due to its diversification project of MDF which could not be completed because of sluggish Indian capital market for 5 years (No Indian IPO came during the period 1996 to 2000). Bank backed out as Call Money rate (overnight bank to bank rate) touched up to 140% and remained 35 to 40% level for quite sometime.
Presently company is under reconstruction and the scheme of settlement is in progress u/s 390 to 394 of Indian Companies Act, 1956.
3) Classic Furniture Manufacturing Co. (P) Ltd., established in the year 1993, is a very specialized solid wood furniture manufacturing and 100% exporting unit near Delhi. Their products are exported to top departmental stores in UK, Finland and USA. The factory is on 100,000 sq.ft. As furniture manufacturing needs lot of space, it is poised for big expansion. It is in negotiation with giants like Ethan Allen, Pulaski in USA and Steinhoff in Europe for a Joint Venture big project in India, worth around USD 20 million.
4) Allied Maritime Services Ltd., established in the year 2001, is engaged in maritime plus oil and gas related business. It represents host of European and American companies mainly Holland Institute of Traffic Technology (Formerly unit of Allied Signals) currently it is executing Vessel Traffic Management System project of USD 25 million, against stiff international bidding, at Gulf of Kutch comprising of Kandla, a major port and 9 minor parts. Some more projects like Setusamudram Project down southern part of India and Gulf of Cambay in Gujarat are under active consideration.
The company is also representing KGW Schweriner Machinenbau GmbH, Germany and Hatlapa Marine Equipment, Germany, both together among the top three (3) in the world in Deck machinery for ship building. The JV for manufacturing their range of products in India to meet Indian and export demands is at an advance stage of formation. For this project, it is also likely to acquire sick engineering unit of local government having small ship repairing yard also in Calcutta port trust area.
5) Zhejiang Allied Chemical Ltd. - JV with Zhejiang Guoguang Science & Technology Investment Group at Quzhou, Zhejiang province for manufacturing of Formaldehyde and Para Formaldehyde with know-how from Allied. The Company is holding 25% equity.
6) Uniscope India : The Group is entering into a JV with Uniscope Inc., 310 South First Street, Johnstown, Colorado 80534, USA, website www.uniscope-inc.com, for production and marketing (mainly exports) of some specialties. In fact, we are already having toll manufacturing arrangement with them and supplying goods worldwide in their brand. |
|
|
|
