Kirloskar Cummins Ltd, a leading diesel engine manufacturer, has decided to undertake a Rs 180 crore capital expenditure plan for capacity expansion and introducing the high range of diesel-powered generators over the next three years.
The company also plans to enhance the output of its diesel engines from 1 mw to 1.5 mw in the QSV range of engines. Similarly, the company plans to expand its existing range of diesel engines.
Addressing the annual general meeting of the company, chairman R L Moore said that they had a strong order book position. Export of V28 series of engines, he said, were also on the rise. In fiscal 1996-97, the company exported diesel engines worth Rs 126 crore, a rise of 22 per cent over the previous year. The AGM approved a dividend of 35 per cent for fiscal 1996-97.
The meeting decided to drop the resolution pertaining to the reappointment of three directors from the Kirloskar group, Sanjay Kirloskar, Vikram Kirloskar and C A Phalnikar, following the decision by Cummins of USA to take additional one per cent stake from Kirloskar Oil Engines in order to get a majority of 51 per cent in the venture.
Another resolution concerning the re-appointment of M F Dodsworth, managing director of Kirloskar Cummins, was also dropped since he is joining the parent company's firm, Fleetguard.
