East India Drums & Barrels Manufacturing Ltd Share Price

(523874)

Precision Containeurs Limited PCL Formerly known Vasparr Fischer Ltd was incorporated on 27 February 1981. Promoted by M N Bhaya and others it was taken over by the present promoters V V Valiya and others in 198788. The Company is into the business of manufacturing of Drums and Barrels.Steel barrels and drums are mainly used for storage and transport of oils solvents and chemicals mostly in liquid and semisolid form. Steel barrels are one of the safest and cheapest method of packing petroleum lubricants and chemicals. The company has United Nations approval for packing hazardous material. It entered the primary capital market with its rights issue of cumulative convertible preference shares in Oct.95.As a measure of achieving backward integration and optimum level of cost of production the company is examining the viability of setting up a new steelrolling plant. During 200102 the company made a reference to BIFR and the application is in the process of revival stage. During 200203 the BIFR Authority after scrutiny of the application made by the company announced it as a Sick Industrial Unit. The company is fully geared up to go through the required procedural matters which are yet to commence in the near future. The companys Registration with BIFR Authority is in force..