ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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COMPANIES

GRAPHITE INDIA, the only producer of graphite products which claims that it can meet the entire home demand and deliver products superior to the imported ones, has appointed Midnapore Commercial (another Bangur Company) as sole selling agents on a commission of 7,5 per cent of net sale proceeds. Graphite's chairman and a director are members of Midnapore Commercial, and the shareholders' approval to the appointment was secured in August last year. The rate of commission is now proposed to be reduced to 5 pea- cent "to effect overall economy in costs''. The company commenced partial production in the middle of 1967 and full production towards the year- end Sales during 1967 amounted to Rs 40 lakhs on which Rs 3 lakhs was paid to selling agents as commission. The outcome was a trading loss of Rs 22 lakhs without providing for depreciation. It is stated that sales were restricted because of recession in the engineering industries and the large quantities of materials imported earlier by consumers. On a representation by the company, Government banned import of graphite electrodes, anodes and and carbon paste.

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