It's estimated that up to 80,000 serious workplace fires occur every year in the United States, taking the lives of approximately 200 workers and injuring another 5,000.
If you own or manage a business, it's your responsibility to put fire safety measures in place and protect your employees, your company, and yourself from the devastation that can result from a workplace blaze.
But soon we realised that the infrastructure needed to operate the unit wasn’t available.
We were not getting a ready supply of CNG for the cylinders. We sold 60 per cent of Nitin Cylinders to US-based Worthington Industries for $21 million in December 2010.
One of them was a senior advisor to the Department of Atomic Energy (DAE). The contract required repair and maintenance of firefighting cylinders.
He told me about a maintenance contract for fire extinguishers at the department. DAE would transport the cylinders to the garage where I was working, I would repair the cylinders and they would be transported back. When we started off, I did not have the money to buy trolleys, pulleys or conveyer belts.
We started offering end-to-end firefighting solutions like designing, manufacturing and maintenance of equipment for firefighting units including Goa fire force and Mumbai fire brigade in 1988.
At that time, no company was offering fire detection equipment.
The size of our initial public offering (IPO) was Rs 65 crore. We used the proceeds from the IPO to set up a manufacturing unit for CNG cylinders at Visakhapatnam.
We set up a separate company Nitin Cylinders to operate the unit.