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Incorporated as Vesuvius Refractories in 1991, Vesuvius India Ltd took over an agency business that was in operation since 1979. Vesuvius manufactures continuous cast refractories (CCR) used in modern steel plants. These refractories represent a technological advancement over the conventional ingot casting route. The company started commercial operations in July 1994 by importing finished mix from the group's UK plant. With the technical support of the parent, the company has created a brand name for its products. Company's gross income from operations in FY99 went up by 16% and its net profit increased by a marginal 0.8% due to a lacklustre steel sector. The company has acquired assets and manufacturing rights of KSR International (India) for Rs 21 million. Future Plans: The Vesuvius Group is planning to expand its product range through a number of strategic acquisitions in the USA and Europe which would benefit its Indian arm The company is planning additional capital expenditure to set up a strong manufacturing base. Vesuvius India is planning to acquire a refractory unit manufacturing monolithics at a cost of Rs 70 mn to supplement the monolithic capacity added through acquisition of KSR International.
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