AIA Engineering Ltd. is engaged in manufacturing of High Chrome Mill Internals.The Company's current capacity stands at 3,90,000 MT of annual production of High Chrome Mill Internals. It presently foc
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uses on three mineral ore types that represent the biggest pie of the mineral grinding space. These are Iron, Gold and Copper. Annual replacement requirement of Grinding Media is estimated at around 2.5 million tons. Of this, less than 20% is currently converted to High Chrome while the balance is served by Forged Grinding Media. This represents a large potential opportunity to convert Forged Grinding Media to High Chrome. It serves the cement, power, mining and aggregates markets both national and international. In the international markets and market products under the brand name Vega', and as AIA' in the domestic market.
AIA Engineering Ltd was incorporated on March 11, 1991, with the name Magotteaux (India) Pvt Ltd. On November 4, 1978, Ahmedabad Induction Alloys Pvt Ltd, promoted by Mr Bhadresh K Shah was incorporated. This company was merged with AIA Engineering on April 1, 1991. The name of the company was changed to AIA Magotteaux Pvt with effect from May 11, 1992. The name of the company was further changed to AIA Engineering Ltd on May 2, 2000 due to the termination of joint venture with Magotteaux International S A, Belgium.
In the year 1995, the company made a technical collaboration with Southwestern Corporation (SWC), USA for process improvement in Raymond mills. In the year 1997, they associated with Alstom for process know-how for Stein designed mills for power plants. In September 2003, AIA Exports Pvt Ltd merged with the company with effect from April 1, 2002. In the same year, they acquired the 100% stake in Vega UK through Vega Middle East, thereby making all Vega companies wholly owned subsidiaries.
During the year 2003-04, a wholly owned subsidiary in the name of Vega Industries (Canada) Inc was incorporated in Canada. On December 31, 2004, the company acquired entire business of Gray Cast Foundry Works (GCFW), a partnership firm and the manufacturing Division of Centricast Enterprises Pvt Ltd (CEPL).
In 2005-06, the company has increased the production capacity of Castings by 1800 MT to 18600 MT. In 2006-07, they further increased the production capacity by 50000 MT to 68600 MT. In January 2007, the first phase of EOU division has commenced the trial production at their Greenfield Manufacturing facility at Moraiya in Ahmedabad.
In 2008, AIA Engineering Ltd commissioned 1 lakh Mt Grinding Media Plant. From February 2008, PCCL has become a 100% Subsidiary of the company. In 2009, AIA Engineering Ltd started supply to mining companies. In 2011, the company enhanced manufacturing capacity to 2 lakh Mt. In 2013, the company achieved the milestone of 1 lakh Mt in annual sales to mining companies.
On 19 January 2016, AIA Engineering announced that it has started commercial production under Phase I of its Greenfield project at GIDC, Kerala in Gujarat. The installed capacity under the first phase is 66,000 metric tonnes (Mt) per year. The company has completed its brownfield expansion of 14,000 Mt per year at its Trichy plant. With this expansion, the total installed capacity of wear parts of the Group will be augmented from 2.6 lakh Mt to 3.4 lakh Mt per year.
In 2017, AIA Engineering completed Phase I of GIDC Kerala plant Greenfield project in Gujarat.
On 23 May 2017, AIA Engineering informed the stock exchanges that Magotteaux International S.A. Belgium has initiated arbitral proceedings against the company and its managing director Mr. Bhadresh K Shah before the International Chamber of Commerce, London (ICC) and has claimed the reliefs of injunction and damages inter alia alleging infringement of its patent by AIA Engineering in relation to its Sintercast product and breach of the Settlement Deed in relation to its Sintercast product. According to Magotteaux, in its request for initiating Arbitration, the amount in controversy in the arbitral dispute is approximately USD 60 million, including costs and damages. AIA Engineering said it disputes this request and denies the allegations made therein and is confident of successfully defending the matter in accordance with law.
As on 31 March 2018,the Company's capacity stands at 3,40,000 Mt of high chrome mill internals. The Company is in midst of expanding this capacity to 4,40,000 Mt by brownfield expansion at its existing plant in GIDC Kerala, near Ahmedabad in two phases of 50,000 Mt each. The incremental Capex to be incurred for this expansion is estimated at around Rs 350 Crore.
During the year 2017-18, Vega Industries Chile SpA and AIA Ghana Limited, step down subsidiaries of the Company have been incorporated by Vega Industries (Middle East) FZC. UAE, a Wholly Owned Subsidiary of the Company.
During the year 2018-19, Vega Industries Australia Pty Ltd, step down subsidiary of the Company have been incorporated by Vega Industries (Middle East) FZC. UAE, a Wholly Owned Subsidiary of the Company. It developed mill lining solutions for mine.
In 2019, the Company installed 8 Wind Turbines of 2.1 MW each. The manufacturing capacity of 50000 MT Greenfield project was completed at Kerala GIDC, Ahmedabad.
In 2020, it obtained ISO 14001 certification for environmental management system and OHSAS 18001 certification for health and safety management system at Moraiya and Kerala Plants.
During FY'22, the Company installed 2 Wind Turbines of total 5.4 MW, taking total renewable energy capacity to 24.3 MW.
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