Gravita India’s step-down subsidiary, Gravita Netherlands BV (GNBV), signed a Memorandum of Understanding (MOU) to acquire a waste tyre recycling plant in Romania. The plant, currently operated by a local entity, has an annual capacity of approximately 17,000 MTPA. The acquisition marks Gravita’s inaugural recycling facility in Europe.
The acquisition will be executed through the formation of a new Special Purpose Vehicle (SPV) in Romania, with GNBV holding an eighty percent equity stake and retaining management control, while the remaining shares will be owned by local Romanian partners.
The move is part of GNBV’s strategy to expand its recycling operations across Europe, capitalize on new market opportunities, and forge strategic partnerships to drive growth.
Gravita operates similar rubber recycling facilities in Senegal, Togo, Ghana, and Tanzania. As reported by business-standard.com, the acquisition aligns with the company’s vision for diversification and expansion, aiming to replicate its successful recycling business model in various global markets.
