International Conveyors Ltd Company Summary

International Conveyors Ltd Summary

International Conveyors Limited was incorporated in 1973 by Kolkata (INDIA) based entrepreneur Mr. R.K. Dabriwala. The Company is engaged in manufacturing of Polyvinyl Chloride (PVC) Conveyor Belt solutions for the mining sector and across all the industries. It manufactures solid-woven, fabric-reinforced, polyvinyl chloride (PVC)-impregnated and PVC-coated fire retardant anti-static conveyor belting. The Company operate into 3 segments: conveyor belting, wind energy and unallocated/corporate. The conveyor belting segment manufactures and sells PVC conveyor belting. The wind energy segment generates, supplies and sells wind power (electricity). The unallocated/ corporate segment includes corporate, administrative and financing activity. The Company started commercial production at Aurangabad Plant in 1979. ICL is an ISO 9001:2008 certified company, accredited by Bureau Veritas. It enjoys around 45% share of the Indian underground PVC mine conveyor belt market. Purchases in India are made through global and domestic tenders and ICL has demonstrated time and again its global competitiveness. Besides manufacturing for Indian market, ICL also manufactures and exports large volume of PVC Belts to USA, Canada, South Africa and Australia as per the fire resistant anti static standards for fire hazardous application of the respective countries.The Company made M/s International Belting Limited (IBL) its Wholly Owned Subsidiary by way of acquiring entire paid up equity shares of IBL during the year 2011-12. Hence the production capacity of the Company increased from 7,00,800 mtrs p.a. to 11,25,800 mtrs p.a. Further, the Company took over the PVC Belting Industrial Undertaking of its wholly owned subsidiary, International Belting Limited in West Bengal on a going concern basis with effect from April 19, 2013. In 2013-14, the Company acquired 100% equity shares of a newly incorporated entity, Conveyor Holdings Pte. Limited and resulting, it became the wholly owned subsidiary of the Company effective on 25th April, 2013.In 2014-15, the Company acquired 100% equity shares of newly incorporated entity International Conveyors America Limited, INC (ICAL) and it became a wholly owned subsidiary of the Company on November 1, 2014.