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India's
leading animation studio has a new name. Crest communication Limited
is now Crest Animation Studios Limited.
A resolution to that effect was passed at the company's AGM held
on September 20.
Crest Animation Studios CEO AK Madhavan told Animation 'xpress
that "The word Communications in the name was being
misconstrued by a lot of people, giving the impression that Crest
was something to do with IT or networking. Since the company is
a pure play animation studio now, we thought it apt to change the
name to Crest Animation Studios Limited."
The board had recommended passing the special resolution on 30 July
2004.
Following is an excerpt from the recently published Annual report
of the company (Page 12, Item no 8)
"The
company operates in 2 distinct segments of business namely animation
and non animation. The non animation business covers post production,
studio, live action film production, dubbing etc., whereas the
animation business covers computer generated animation films and
special effects.
The industrial environment is no longer conducive to the growth
of non-animation business of the compnay. The company has decided
to refocus its attention to its animation business. Hence the
production facilities at the animation studios are being upgraded
and expanded substantially.
Based on the growing demand for the company's animation business,
the company has invested Rs 12.17 crores during the financial
year 2003-2004 in the production facilities. In addition the company
has increased the number of computer animators from 124 to 229
during the year, which has resulted significant increase in the
production capacity of the company and helped the company to upgrade
its animation studios.
In present name the word "Communication" does not reflect
properly the company's changed focus on animation activities.
Also, the company has its own studio where it has all production
facilities for animation activities. Hence, it would be desirable
to change the name of the company from "Crest Communication
Limited" to "Crest Animation Studios Limited."
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