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Incorporated in Junagadh on 27 Jul. '78, Austin Engineering Company went public in 1985. It was promoted by qualified engineers having vast experience in the bearings industry. It manufactures all kinds of bearings -- ball bearings, tapered roller bearings, cylindrical roller bearings, spherical roller earings, needle roller bearings, etc. Austin came out with a rights issue in Mar. '92 to meet the cost of expansion and to augment long-term working capital requirements. The company's products find application in the automobile and engineering industries. Its major clients are OEMs like TELCO, Premier Automobiles, Bhilai Steel Plant and Punjab Tractors.