Gravita acquires Romania waste tire recycling plant through subsidiary

On October 20, it was reported that Gravita India, a well-known Indian chemical company, through its Dutch subsidiary, Gravita Netherlands Limited (GNBV), reached a memorandum of understanding with a waste tire recycling manufacturer in Romania, officially taking the step of acquisition. The recycling plant is currently operated by a local Romania company with an annual processing capacity of approximately 17,000 tons. This acquisition marks the official implementation of Gravita's first waste tire recycling project in Europe.

According to the terms of the memorandum, the two parties will jointly form a new joint venture in Romania. Among them, Gravita Netherlands will hold 80% of the shares and lead the management and operation of the company, while the remaining shares will be held by Romania partners.

According to the Carbon Black Industry Network, this strategic move is an important part of Gravita Holland Co., Ltd.'s expansion plan in the European market. It aims to deeply explore the market potential in the field of waste tire recycling, capture emerging business opportunities, and build a solid strategic partnership to inject new impetus into the company's continued growth.

It is worth mentioning that Gravita has multiple rubber recycling projects around the world, including successful practices in Senegal, Togo, Ghana and Tanzania. The acquisition of the Romania factory not only conforms to the company's long-term plan for diversified development, but also demonstrates its determination and confidence to introduce its mature recycling business model to the global market.