USHA India LTD

Usha (India) [formerly Usha Rectifier Corporation (India)] was incorporated in Feb.'62. It is managed by Chairman Vinay Rai. It is engaged in the manufacture of semiconductor devices such as silicon diodes, thyristors, low power devices, semiconductor module bridges, rectifier stacks, etc. The company's electrical division also manufactures computers, electro medical equipment, telecom products and household appliances -- such as washing machines, mixers, vacuum cleaners, irons, heat convertors, toasters, etc. Usha has a tie-up with Samsung, South Korea, for the manufacture and 100% buy-back of semiconductor devices. The company also has major collaborations with leading international companies including Marconi Devices, UK; Transfor, Switzerland; and Sumitomo Metal Industries, Japan. Usha came out with a public issue of 1.62-cr 14% secured fully convertible debentures of Rs 100, aggregating Rs 162 cr. The object of this issue was to part-finance a project to set up a plant to manufacture hot briquetted sponge iron at Sultanpur, Uttar Pradesh. The total project cost was estimated at Rs 711 cr. Usha Ispat, a subsidiary of the company, is engaged in the manufacture of pig iron. The company received the ISO 9002 certification for its power transistor division and metal film resistor division. Company has various expansion plans of expansion, starting Project Engineering & Construction, manufacturing of solar cells and system for generation of power, and further, software developlemt engineering. The company is in the process of setting up 5" pseydisquare & 6" round diameter solare cells manufacturing project with the capacity of 3 MW/year. In 1998-99 it increased the installed capacity of To92 to 72 million nos. In 2000-01 the company had a tie up with Fair Child (Samsung,Korea) to buy back of semi conductor devices To92. But due to stoppage of the orders the buy back has been deferred.