Hyderabad Allwyn Limited was established in January 1942 as Allwyn Metal Works. It was started as joint venture of Industrial Development Trust of the Nizam's Hyderabad Government and M/s Alladin & Company . Hyderabad Allwyn Metal Works Limited used to assemble Albion CX9 buses for Hyderabad State Railways. The ballot boxes for first ever general elections in 1952 were made by Hyderabad Allwyn Metal Works. The firstdouble-decker buses in Hyderabad were introduced in April 1963. These buses were designed by Hyderabad Allwyn Limited with APSRTC .
In 1969 due to inability of its management to run the company efficiently, it was taken over by State Government . However, by 1990s the performance of the company was very weak and by 1993 all its reserves were washed off. Hyderabad Allwyn become a company with negative net worth. The company had three divisions, bus body building, watches & refrigerators. The refrigerators division was privatised in 1994 and handed over to Voltas.
The Allwyn refrigerators model was eventually phased out by Electrolux in 2002.
In 1983 the automobile division entered into a tie-up with Nissan and the division was named as Hyderabad Allwyn Nissan Ltd with Nissan holding 15% of the equity. In 1989 Allwyn Nissan was privatised and taken over by Mahindrathe company was called Mahindra Nissan Allwyn Ltd. In 1994 MNAL was merged with Mahindra & Mahindra.
Hyderabad Allwyn entered the watch business in 1981 in collaboration with Seiko of Japan . The watch division is now closed and is pending before BIFR. Allwyn along with HMT & Titan Industries had dominated the Indian watch market with almost 10% of the market share. Hyderabad Allwyn Limited in 1987 gave A. R. Rahman, who was then still known as Dileep his first break in advertising when he was asked to compose the jingle for a new range of watches known as Allwyn Trendy Watches.
Andhra Pradesh Scooters Limited (APSL) had manufactured scooters under the brand name Allwyn Pushpak. APSL is also presently liquidated.
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