Bright Brothers Ltd Share Price Plastic products
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Incorporated as a private limited company in Jul.'46, Bright Brothers (BBL) was converted into a public limited company in Oct.'94. BBL was promoted by S T Bhogwani. Other companies in the Bright group are Brite Automotives & Plastics, T W Bhojwani Leasing Pvt Ltd and Bright International Casettes Pvt Ltd. In Dec.'94, BBL came out with a public issue of 10.65 lac equity shares at a premium of Rs 55 each aggregating Rs 6.92 cr, to part-finance a project to set up an injection moulded plastic components unit at Gurgoan, Haryana; and for office seating systems at Tarapur, Maharashtra, totalling Rs 22.15 cr. BBL is a pioneer in the plastics industry and has products ranging from houseware to consumer electronics, car and motor accessories, under the brand name Brite. Some of its select clients include Maruti Udyog, TELCO, etc. The company has entered into a license agreement with Provendra Marketing, Switzerland, for use of the trade mark Sitag & Britesitag. The company executed an export order through their technical collaborator. The company has also entered into a technical collaboration agreement with M/s Reydel Italia S P A, Italy for obtaining latest technical know-how for manufacturing automotive components. It has embarked on a major diversification plan in the office furniture market. The range will include chief executive chairs, executive chairs, typist chairs, etc. The company was successful in completing the first step of its restructuring exercise in the year 1998-99. As a part of the cost management excercise, it announced a VRS for its unionised employees at its factory in Bombay. Brite Automotive and Plastics (BAPL) was amalgamated with the company with effect from 1st April, 1999. Accordinlgy, one equity share of Rs.10/- each of Bright Brothers Ltd was allotted for every two equity shares of Rs.10/- each of BAPL. In 2000-01 the company had set up its new manufacturing unit at Pondicherry. It has also acquired a Plastic manufacturing unit from Whirlpool of India Ltd.