GRP will enter into a Joint Venture Agreement (JVA) with Marangoni S.p.a., to carry on the business of commercial vehicle tyre retreading in India. Marangoni S.p.a., Italy is a leading international company which owns technical knowledge relating to precured retreading process for tyres.
The total estimated investment will be Rs 2.00 crore to be contributed equally by both the partners. This venture will give the company a strategic advantage to strengthen its raw material collection network and offer entry into the fast growing radial tyre retreading industry.
GRP produces reclaim rubber from scrap of whole tyres, tread peelings, natural rubber tubes, butyl tubes, moulded rubber products for different applications in both, tyre and non tyre rubber products.
