Gravita India has partnered and acquired 80% stake in Metal, Inc., Kathua. The company is also under process to acquire the balance 20% stake in Metal, Inc., making it a 100% wholly owned unit, shortly. This is the company’s second acquisition in the state of Jammu & Kashmir.
The latest addition shall further increase the lead smelting and refining production capacity of Gravita India by 3,600 MT per annum to 46,200 MT per annum. This acquisition will enable the company to successfully cater the growing demand for its products and to better serve customers from Northern part of the company.
The company shall benefit from this acquisition in the Tax heaven zone in terms of improved profit margins. The company expects an addition of approximately Rs 40 to 45 crore and Rs 3 crore respectively to the top and bottom line of the company during the current fiscal.
Recently, Gravita India together with its subsidiary company - Gravita Exim had acquired 60% stake in K. M. Udyog, Jammu. The installed lead manufacturing and refining capacity of K. M. Udyog, Jammu was 7200 MT per annum.
Gravita India manufactures lead metal using recycling and smelting process, besides it also makes other lead based products and lead alloys. Lead is the second most recycled metal in the world and is also most widely used across in industrial sectors, especially automobiles.
