YEAR EVENTS 1961 - The Company was incorporated as a Pvt. Ltd. Co. on 19th April, 1961 it was converted into a Public Limited Company, on 5th September. It was promoted by India Pistons Ltd. with the financial and technical collaboration of Clevite Corporation, U.S.A. and financial collaboration of Repco, Ltd., Australia. The Company is a member of the Amalgamations Group. - The Company manufacture of shell back bearings, bushings and thrust washers. The Company markets its products to both the original equipment manufacturers and the replacement market. 1969 - On 31st July, Clevite Corporation, U.S.A. merged with Gould Inc. U.S.A. and hence the shares held by Clevite in the Company were transferred to Gould. - The Company entered into a technical aid agreement for technical know-how with Clevite Corporation, U.S.A. When Clevite Corporation merged with Gould Inc. U.S.A., "Gould" became successors to Clevite. This agreement expired on 31st December, 1973. 1974 - 3,50,000 Bonus shares issued in prop. 7:10. 1975 - The Co. entered into a patent and technical service agreement with Gould Inc., U.S.A. This agreement was valid for 5 year from 1-1-1974. The Company was permitted to manufacture such items after the expiry of collaboration without any additional payments. 1978 - In Jan. 4,25,000 shares offered to public (prem. Rs 10 per share). 1981 - 6,37,500 Bonus equity shares issued in prop. 1:2. 1983 - However its working was adversely affected due to labour unrest during November 83 to Feb. 84. - The Company signed an export contract with Auto Exports of U.S.S.R., for the supply of thin walled engine bearings. - The second phase of expansion at the bearings plants at house was implemented and commercial production commenced in June 1985. 1987 - On 27th April, the Company privately placed with UTI, LIC, GIC and its subsidiaries, 2,25,000-15% redeemable non-convertible debentures of Rs 100 each. 1989 - 19,12,500 Bonus equity shares issued in prop. 1:1. 1991 - The Company partially developed infrastructure facilities for manufacture of heavy and large diameter bearings to cater to the requirements of railways. - The Company revalued its plant and machinery as at 31st March, and the net surplus of Rs 871.53 lakhs arising out of this was credited to capital reserves. 1996 - The operations in the first four months of the year were affected by labour problems faced at the Hosur plant, restricting the company from taking full advantage of the favourable market conditions. 1997 - Sales declined to Rs.52.02 crores due to accentuated trend of demand contraction in the Automobile Industry. 1998 - The Company's performance was adversely affected due to strong pressure on price on the components industry. 2000 - The Company has signed agreement with CDSL and NSDL for dematerialisation. 2006 -Bimetal Bearings Ltd has appointed Mr N P Mani as Whole-time Director 2009 - Bimetal Bearings Ltd has informed that the Board of Directors of the Company at its meeting held on March 30, 2009, inter alia, has appointed the following Additional Directors: 1. Mr. S Krishnan 2. Mr. Krishna Srinivasan. 2010 - Bimetal Bearings Ltd has appointed Mr. R. Vijayaraghavan as Additional Director and he would be holding the position of an Independent and Non-Executive Director in the Company. -The Company has recommended a dividend of Rs. 8/- per share. 2011 -The Company has recommended a dividend of Rs. 8/- per share and Rs. 3/- per share towards Special Dividend for the 50th year. -The Company has re-appointed Mr. N. P. Mani as Whole-time Director of the Company. 2012 -Mr. S. Narayanan had been appointed as Whole-time Director of the Company. -The Company has recommended a dividend of Rs. 11/- per Share. 2013 -The company has recommended a dividend of Rs. 9/- per share. 2014 -The company has recommended a dividend of Rs. 7/- per share. -The company appointed Mrs. Sandhya Sekhar as an additional Director of the company under the Independent category. 2021 -Bimetal Bearings Limited commencement of commercial production at the newly commissioned powder plant at Hosur.