Gravita India Limited ("Gravita" or the "Company) a leading "Recycling Company" having its manufacturing presence around the globe, is pleased to announce that its step down subsidiary situated in Senegal, West Africa has started commercial production of Aluminium from a new recycling plant having an annual capacity of around 4,000 MTPA. The Company is expecting an additional revenue of approx. Rs. 60 Crores per annum with a gross margins of ~ 20 per cent from the new capacity.
The Group has made investment of approx. Rs 3.50 Crores for procuring and commissioning of this new Recycling Plant which is invested from internal accruals of the company.
The Company will be procuring domestic aluminium scrap for the purpose of production from this plant and it will cater to the needs of Aluminium die casting components manufacturing industries of Auto & FMCG sector located in China, Japan and Vietnam. Gravita Group is among well-known recycling companies across the globe and capacity expansion of this plant will help company to change its sales mix by increasing the contribution of Aluminium business.
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( With inputs from ANI )
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