First Strategic Investment in E-waste Industry in India; Nippon Picks up Stake in EcoReco
NMD’s request to invest in Ecoreco has been approved by the Board of Directors’ of Ecoreco on 30th July, 2012 and the allotment of 800,000preferential shares at Rs. 40 per share will be submitted before the general body in the ensuing Annual General Meeting scheduled to be held on 30th August, 2012. Market price for Ecoreco’s share on July 30, 2012 at end of trading was Rs. 38.00.
Ecoreco is very pleased to extend its heartiest thanks to IRG Systems South Asia Pvt Ltd. for their valuable contribution in forging the tie up of the above companies.
"We build partnership with Ecoreco and want the E-waste recycling business in India to be successful together by this strategic investment," says Mr.K Baba, General Manager Treasury, Nippon Magnetic Dressing Co. Ltd.
What is the future of E-Waste management? Share your thoughts.