Gravita India’s step down subsidiary -- Gravita Netherlands BV (GNBV) has executed a Memorandum of Understanding (MoU) with Access Auto Trading SRL to acquire a Waste Tyre Recycling plant in Romania from an existing entity based out in Romania having a capacity of around 17,000 MTPA. This will be the company’s 1st recycling facility in Europe.
This acquisition will be done by forming a separate SPV in Romania in which GNBV will be holding 80% of equity with management control in the said SPV and remaining equity will be held by other partners based in Romania. Further, total investment in this transaction will be around Rs 40 crore and GNBV will be investing around Rs 32 crore towards its contribution subject to in depth Financial. Environmental and Legal Due Diligence.
GNBV also aims to expand its recycling business operations across the European market, leveraging new market opportunities and establishing strategic partnerships to drive growth. This acquisition will enhance our presence, increase our customer base, and strengthen our competitive edge in the European market.
Gravita India is a leading recycling company having its operations in Non-Ferrous Metals and Plastic Recycling.
| Company Name | CMP |
|---|---|
| Hindalco | 1033.60 |
| Vedanta | 759.00 |
| Hindustan Zinc | 594.35 |
| Jain Resource Recycl | 418.25 |
| Gravita India | 1634.00 |
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