Hardcastle & Waud Manufacturing Company manufactures powder paints used in powder coatings (mainly for consumer durables like washing machines), varnishes and synthetic resins._x000D_ _x000D_ The company diversified its production pattern. It set up a pre-colour coated steel coil project which went into commercial production in Mar.'95. It has entered into a technical collaboration agreement with Oxyplast, Belgium, to produce special types of epoxide resins required for the coil coating plant. The installed capacity in the resin plant has been expanded._x000D_ _x000D_ The company has been appointed by WD-40-Company, US, to exclusively market its products in India. It has signed a joint venture agreement with Soudal, Belgium, to manufacture various types of adhesives, sealants and roofing compounds. In 1994-95, various products like reactive polyamides, hammertone medium, tri-methylol propane oleate and fast drying alkyd were developed and commercialised. Development work on urea formaldehyde resins, acrylated alkyd and thermoplastic acrylic resin is at an advanced stage and it is to be commercialised soon. _x000D_ _x000D_ Excessant Asbestos Jointing Ltd, subsidiary company has voluntarily wound-up with effect from 4th September, 1997, due to adverse business condition and severe competition from small scale sector._x000D_ _x000D_ The company's business was re-structured by demerger of Sarigam Unit and transferring the same to Hawcoplast Chemicals Ltd as an ongoing concern effective from 1st April 1999._x000D_