BWI: BCCL Increases its stake to 8% in Eco Recycling Ltd

Press release from Business Wire India
Source: Eco Recycling Limited
Monday, October 08, 2012 10:00 AM IST (04:30 AM GMT)
Editors: General: Consumer interest, Environment; Business: Business services, Chemicals, Commodities & materials, Electronic appliances & components, Financial Analyst, Heavy industries, Information technology, Major diversified industrial groups, Stock exchanges; Technology
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BCCL Increases its stake to 8% in Eco Recycling Ltd


Mumbai, Maharashtra, India, Monday, October 08, 2012 -- (Business Wire India) -- Bennett Coleman & Company Limited (BCCL) increased its stake to 7.98% in Eco Recycling Ltd (Ecoreco) by acquiring 800,000 Equity Shares @ Rs. 43 per share. This is the second round of equity acquisition by BCCL in Eco Recycling Ltd.

Eco Recycling Ltd, the renowned e-waste and the first company registered by the Central Pollution Control Board (CPCB) to undertake e-waste recycling business in India. Ecoreco is also the first company authorised by the Maharshtra Pollution Control Board (MPCB) in this segment in India.

It may not be out of place to mention that very recently a Japanese metal recycling company M/s Nippon Magnetic Dressing Co. Ltd has acquired 800,000 Equity Shares @ Rs. 40 per share in the company. This was the first strategic investment in any e-waste recycling company in India.

Eco Recycling Ltd is serving to almost 400 entities nationwide, expecting a tremendous growth in the organised recycling in India in the recent future.

The above investment will be utilized for the expansion project and awareness campaign undertaken by the company. It is equally important to share that Ecoreco is the single largest spender in the awareness campaign across nation to create the best possible awareness amongst the corporates and individual customers to go for the scientific recycling of discarded electrical and electronic equipment.



CONTACT DETAILS
B K Soni, Eco Recycling Limited, +91 9867729662

KEYWORDS
CONSUMER, ENVIRONMENT, BUSINESS SERVICES, CHEMICALS, COMMODITIES, ELECTRONICS, Financial Analyst, HEAVY INDUSTRIES, GROUPS, STOCK EXCHANGES, TECHNOLOGY

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