Magna Electro Castings was incorporated in 1990. The company was promoted and Managed by N Krishna Samaraj. The company is mainly engaged in castings and sale of patterns._x000D_ _x000D_ In 2001 the company has successfully commissioned its state of the art CAD/CAM Centre for producing tooling._x000D_ _x000D_ The Company had implemented a Energy Conservation Project in 2001-02 at a cost of Rs.110 lakhs and was funded by internal accruals and term loans from Corporation Bank. In the area of raw material recycling and production automation the company is planning to make investments to the tune of Rs.150 lakhs and will be financed by means of Internal accruals and Term Loans. This project was put on hold due to decision on implementation of the latest technology and processes._x000D_