Ludlow Jute & Specialities Share Price

Ludlow Jute Specialities Limited was initially founded in 1921 in the name of Ludlow Jute Mills Limited by the Ludlow Corp. of Ludlow, Massachusetts, United States. In 1977, it was acquired by the Kanoria family and engaged in development of jute products and the jute industry in India. The Company, formerly incorporated as Aekta Limited was a whollyowned subsidiary of Kanoria Chemicals Industries Limited. The name of the Company was changed from Aekta Limited to Ludlow Jute Specialities Limited on May 22, 2008. The Company, which has remained in the forefront of product innovation and technological breakthroughs was built by Ludlow Corp. of the U.S.A on the bank of the river Hooghly at Chengail in Howrah district of West Bengal. Ludlow has developed products like Jute Mesh/Scrim for Roofing Felt, Agriculture, Horticulture and Webbing for Furniture Industry, Rubber Bonded jute cloth for Landscaping, special fabrics for Furnishing and Apparel, Soil Saver known as Geotextile and Carpetbacking Cloth.The Company established in December, 1979 is into manufacture of jute yarn, webbing, geotextile polyjute bags, hessian, etc. The Company, which commenced activities in Jan 1980 got transferred the Ludlow Jute mill from Kanoria Chemcials Inds Ltd(KCIL). The Ludlow Jute Mill set up under American ownership in 1921 was acquired by KCIL ion 1977. The company upgraded Ludlow Jute Mill through various modernisation schemes sanctioned by financial institutions. The first phase was completed in Jun.92 and the second in 199394. The cotton yarn unit at Gurgaon, Haryana, has 17,020 spindles and 576 rotors. Aekta strengthened its technological base through modernisation and introduction of new products. It invested in specialised equipment, including circular looms, automatic looms, newtechnology spinning frames and other specialised equipment. The company as part of its restructuring plant has transferred Sijberia Division to its wholly owned subsidiary Ludlow Securities Ltd operative from Oct 10, 2003.The Scheme of Arrangement between the Company and its 100% subsidiary, Ludlow Securities Limited became effective from 01.04.2002. Further, in terms of the Scheme of Arrangement, the Shareholders of the Company were allotted shares of M/s. Sijberia Industries Limited in the ratio of 1:10. As a result, Ludlow Securities Limited the name of which changed to Sijberia Industries Limited ceased to be a subsidiary of Company with effect from 8th March, 2004.The management of the Company has been making adequate investment in modernization and installation of specialized equipment, but it has heralded the introduction of a number of valueadded products as the blending of jute with other natural/manmade fibres. Ludlow has developed products like Jute Mesh/Scrim for Roofing Felt, Agriculture, Horticulture and Webbing for Furniture Industry, Rubber Bonded jute cloth for Landscaping, special fabrics for Furnishing and Apparel, Soil Saver known as Geotextile and Carpetbacking Cloth.