3M India History
BSE:523395 | NSE:3MINDIAEQ | IND:Diversified | ISIN code:INE470A01017 | SECT:Diversified
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The Company History page lists out the major events in chronological order for 3M India Ltd.
| Company History - 3M India Ltd. | ||
| 1987 - The Company was originally incorporated as a private limited under the name and style of Nav Electromed Pvt. Ltd. on 4th June. The name was later changed to Birla 3M Pvt. Ltd. in February, 1988. Subsequently the company was converted into a public limited company on 27th April 1989. - The Company was formed as a joint venture between Minnesota Mining and manufacturing Company (3M) of USA and Scinitar investment and Trading Co. Pvt. Ltd. - The Company is manufacturing telecommunication connectors and gearing itself to manufacture speciality pressure sensitive coated tapes for medical/surgical and packaging applications and speciality chemicals and Keonics-Electronics City near Bangalore. 1988 - The Company entered into a technical agreement with 3M on 17th March for transfer and imparting of the technical data by 3M. 1992 - 70 No. of equity shares subscribed for by signatories to Memorandum of Association. 70,00,000 No. of equity shares of Rs 10 each were then issued at par of which the following were reserved for allotment: - (i) 32,00,000 shares to foreign collaboration Minnesota to Mining & Mfg. to USA; - (ii) 19,20,000 shares to Scimitar Investment and Trading Co. Pvt. Ltd.; - (iii) 12,79,930 shares to Shares on Investment & Trading Co. Pvt. Ltd. Of the remaining, 3,50,000 shares reserved for allotment on preferential basis to employees of promoters companies (only 1,45,900 shares taken up). Balance 2,50,000 shares along with 2,04,100 shares not taken up by employees were issued to the public in February 1991. Additional 22,00,000 shares allotted to retain oversubscription (9,60,000 shares to promoters and 12,40,000 shares to public). 1993 - 20,65,000 No. of equity shares allotted to Minnesota Mining & Mfg. Co. (3M) on preferential allottment basis. - During the current year the Company will be introducing a number of high quality, indigenised Industrial and Commercial tapes, the range of 3M stethoscopes and overhead projectors for the business and education markets. - The Company is creating a technical cell to modify/adapt certain 3M products to suit the local market. 1994 - The company has created a technical cell to modify/adapt certain 3M products to suit the local market. 1995 - New products offerings in the Office Markets, Telecom, Healthcare products and consumer markets were made. The Company entered into construction markets and proposed to expand its manufacturing activities in growth identified areas. - The Company has developed new products using Adhesive, Aerosol, Chemical and Abrasive Technology absorbed from 3M Company. The Company's technical lab has been modifying and adapting certain 3M products to suit the local market requirements. 1996 - New products introduced during the year include privacy filters, secotchlite and LCD panels. - During the current year, new product offerings in the Office Markets, Telecom, Healthcare Products & Consumer Markets were made. The Company has entered Construction Markets and is expecting to explore the possibilities of introducing additional new products during 1996-97 in other areas. - The Company has introduced Optical Fibre in the Market using Technology absorbed from 3M Company. The Company's technical lab has been modifying and adapting certain 3M products to suit the Local market requirements. 1997 - The company has already acquired 25 acre land near Pune for setting up a factory. - Birla-3M, the Indian joint venture between the $14-billion 3M Corp and the Yash Birla group, has launched its Scotchgard brand for the Bangalore silk market. - Birla 3M, the joint venture company promoted by the Yashovardhan Birla group and the Minnesota-based 3M, has registered a 30 per cent growth in sales turnover in the first five months of the current financial year. 1998 - Birla 3M now has a single unit in Bangalore and proposes to set up another plant in Pune. - Birla 3M has introduced only a small percentage of 3M's product portfolio. - Birla 3M has entered into a strategic alliance with Hewlett Packard, which would market the former Thermal Ink Jet (TIJ) imaging media along with HP DesignJet CP printers. - Birla 3M has launched its 3M sun control film (window film), 3M Scotchtint which meets the parameters specified in the central motor vehicle rule 1989. - The company was originally set up as a 40:40 joint venture between Yashovardhan's father Ashok Birla and 3M, and public held the rest. - Birla 3M, a 76 per cent subsidiary of 3M, Us, drawing strength from its parent in a limited measure, also has a wide product portfolio. - Birla 3M is setting up a 3M-Innovation Centre at the Electronics City of Bangalore. - Birla 3M has launched the Photodyne brand 800XGT, its fibre identifier, designed to locate any particular fibre the line or non-obtrusively identify live fibres to determine the amount of traffic present. - The company entered into a five year contract with FedEx. It has also signed interline agreements with Asiana Air and Alitalia Airlines. 1999 - Birla 3M was floated as a joint venture between the Birla Group and 3M corporation, with the latter holding 51 per cent and the Birlas 32.5 per cent. - The Company has set up a fund and taken a policy with Life Insurance Corporation of India to meet its gratuity liability. 2000 - Arvind Mills Ltd has signed an exclusive agreement with Birla 3M Ltd to promote stain-resistant finishes for cotton fabrics. - The company has also entered into providing a wide range of consumer healthcare products which have recorded promising growth in the recent past. - ICRA has assigned an A1+ rating indicating highest safety to the Rs. 30.25-crore (enhanced from Rs. 15.25 crores) short-term debt programme of Birla 3M Ltd. - Birla 3M is the subsidiary of Minnesota Mining & Manufacturing Company (3M) of the US. - The Company has introduced a new concept in etching with a range of special effect films. - Birla 3M, the Rs 150-crore diversified company, is mulling over its option to set up a manufacturing plant for its home care division in India. 2001 -Birla 3M launches a new improved version of its scrub pad, Scotch Brite. 2002 - Company name changed to 3M India Limited from Birla 3M Limited. 2003 -Birla US based 3M launched its latest car services which offers customers with total solution and protection of their cars. 2004 -Birla 3m Ltd. has informed that at the AGM held on April 22, 2004, the members of the Company have approved the De-listing of shares from Ahmedabad, Bangalore, Calcutta and Delhi Stock Exchanges. - Inauguration of Manufacturing Facility for Corrosion Protection Products in Ahmedabad. 2006 - Acquisition of Mahindra Engineering & Chemical Products Limited. 2007 - Moved to a brand new Corporate Office at UB City in Bangalore. - Expansion of our Bangalore & Ahmedabad Plants. - Acquisition of Macroworx Media Pvt Ltd. 2008 - 3M completes 20 years of operation in India. - 3M India's 5th Manufacturing facility at Ranjangaon begins commercial operations. 2009 - Phase 2 of 3M India's Corrosion Protection Manufacturing Facility at Ahmedabad inaugurated. 2010 - 3M India made its first foray into the retail space in India with the launch of the 3M Car Care Centre initiative. - Filed 13 patents & launched over 23 new product innovations for the India market. 2011 - 3M India's biggest Distribution Centre inaugurated at Electronics City, Bangalore to meet 2015 growth needs. - Expanded regional presence with 4 branch offices in Kolkata, Chennai, Pune & Gurgaon respectively. - Inaugurated two state-of-the-art Innovation Centres at Bangalore and Gurgaon to focus on local product innovations. - Filed 14 patents. - Ranked 4th in the prestigious Indian Council of Market Research ( ICMR) list of "Most Innovative Brands" in India. 2012 - Recognition of Company's In-House R&D Unit at Bangalore by Department of Scientific and Industrial Research (DSIR). 2013 -3M Introduces LED Advanced Light for Enclosed Commercial Applications -3M Awarded Top Honor at 14th Annual TEKNE Awards -3M Introduces Two New Solar Encapsulant Films 2014 -3M Earns Top Honors at 2014 Edison Awards. -3M Introduces Anti-Glare Filters for Laptops and Computer Monitors -3M Completes Acquisition of Treo Solutions -3M Launches 3M Multi-Touch Developer Network | ||
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Cash Flow Statement
Half Yearly Results
Capital Structure
Chairman's Speech
Company History
Locations
Dividends
Splits
Competitors
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