Triveni Glass Ltd

Triveni Glass Ltd

Incorporated in Dec.'71 Triveni Sheet Glass Works presently Triveni Glass Ltd (TGL) commenced business in Feb.'72. Other major group companies are Hindustan Safety Glass and Uttar Pradesh Safety Glass. In Oct.'94 the company came out with a public issue of 16.62 lac equity shares at a premium of Rs 90 for the Indian public and Rs 110 for NRIs; aggregating Rs 17.31 cr to part-finance the Rs 150-cr project to set up a manufacturing facility for float glass in Allahabad. The Company having its works in Allahabad Meerut and Rajahmundry.TGL manufactures a wide variety of flat glass including sheets and figured wired glass used in the automobile and construction industries. The company has a technical collaboration with CMIEC China to manufacture float glass. It has been a regular exporter of float glass and has been the winner of the CAPEXCIL award for excellence in exports of glass for four consecutive years -- from 1988 to 1991. Due to accumulated losses and erosion of more than 50% of peak networth of the company during 1999-2000 the company has made a reference to the BIFR.Due to paucity of funds the company could not take up the project for Reflective Coating Glass in 2000-2001 but the same was taken up in 2001-02 and trial runs for Relfective Coating Glass was started in June2002.