Industrial recycling major Gravita India said it has signed a Rs 125 crore agreement with Sorin Corporation, a subsidiary of Korea Zinc Co Ltd for supplying 8,000 tonnes of refined lead.
Yogesh Malhotra, Whole-time Director at Gravita India, said the contract to be executed this year will help the company strengthen its market presence in Southeast Asia.
Korea Zinc is a world’s leading non-ferrous metal smelting company that has served as a foundation for the growth of base metal industry in South Korea. Established in 1974, it produces 1.2 million tonnes out of various types of non-ferrous metals from zinc to lead, gold, silver, copper as well as rare materials like indium.
Soril Corporation has its presence largely in southeast Asian countries like Vietnam, Japan, South Korea, Philippines and India.
Gravita India is a leader with integrated operations in non-ferrous metals and plastics recycling, manufacturing and turnkey businesses in eight countries of Asia, Africa and South America. The company sells its products in more than 59 countries.
At 12:30 pm, Gravita India stock was trading 3.6 per cent higher on BSE at Rs 80.90 per unit.