SRAM & MRAM Group to invest Rs 100 cr in manufacturing of PPE products

UK-based global conglomerate SRAM & MRAM Group on Thursday said it will invest Rs 100 crore in manufacturing the PPE products under its flagship brand'Walletz4u' in India.

The company is set to produce premiumNitrile Examination Glovesthat are currently being produced from its factories in Malaysia, Thailand and Vietnam, saidSRAM & MRAM Group in a statement.

"With the series of investments and manufacturing units in place, the company is gearing up to become the leading OEM (original equipment manufacturer) of medical and industrial grade gloves in East Asia," it added.

SRAM & MRAM Group ChairmanSailesh Lachu Hiranandanisaid the company hasgeared itself up to tackle the PPE shortage by acquiring and leasing a lot of production lines to meet the ever-increasing demand, especially gloves of all types for all industry verticals.

"With the launch of 'Walletz4u', the conglomerate has joined the leading players for selling their branded premium gloves across the globe," he added.