Classic Biotech & Exports, incorporated as a public limited company on June 8, 1994, has business activities in floriculture and tissue culture. The company grows cut flowers at Karimsonnen Hally near Bangalore with an installed capacity of 5.2 million roses and other cut flowers. It obtained technical assistance and marketing support from Oriental Floratech India, a pioneer in the Indian floriculture industry. The company exports cut flowers to the Middle East countries, Gulf countries and the Netherlands auctions.
1994 - Classic Biotech & Exports Ltd was incorporated as a public limited company on June 8. The company received the Certificate of Commencement of Business on June 23, 1994. The company is having its registered office at 133/B, Vengalarao Nagar, Hyderabad.
The company is in the process of setting up a floriculture project at Karimsonnen Hally near Bangalore.
1996 - The company entered into a marketing tie-up with Oriental Floratech India Limited (OFIL) for marketing cut flowers in Holland auctions and for direct markets in the Middle East and Gulf countries.
1997 - During the year under review the company completed three green houses including plantations.
1998 - Directors N Rama Sita, P V Rama Raju and N Jhansi Rani retire.
1999 - The company proposed to enter into Information & Technology with e-commerce based solutions and accordingly a resolution is placed before for the approval for amendment of objects clause.
P Padmavathi and A S S N Raju, directors retire.
2000 - The company, a flower grower from south India, developed an online auction portal christened 'Classicflora.com' to cater to the Indian cut flower trade targeting major flower markets in the Asia-Pacific Rim.
Classic Biotech and Exports (CBEL), engaged in floriculture activity, entered into a memorandum of understanding with Sanjisoft 2000 of Colorado Springs, US.
The company will establish two development centres, one each in Bangalore and Hyderabad. For domestic market capitalisation, it has tied up with the Bangalore-based Brainsoft.
The company is offering a full-fledged international flower auction portal - www.classicflora.com.
The company has a unique concept in diversifying into biotechnology particularly agricultural biotechnology and the company as already ventured and invested heavily in its IT division.
The board of directors decided to retain the company's original name Classic Biotech & Exports.