Unitech International ventures into monomer production

Unitech International Ltd, an importer of scrap products in India, is planning to diversify its business activity from trading to manufacturing by setting a monomer production facility. “The company is in the process of shifting the focus of its major business from trading to manufacturing in order to receive higher profit and product diversification to reduce the global commodity and forex risks,” said Unitech International in a BSE filing.
 
Unitech International has been primarily involved only in trading activities of various commodities like ferrous metals, non-ferrous metals, plastics, chemicals, etc. Now, the company is keen to diversify and manufacture high-value, specialty chemicals to cater to the domestic as well as the export market.
 
As a part of this diversification plan, Unitech is setting up a monomer manufacturing plant having annual capacity of 12,000 metric tonne in Acchad district of Maharashtra and is expected to start commercial production by August 2015, said the company.
 
Unitech expects to earn annual revenues of approximately Rs 132 crores and add Rs 12 crore to the bottomline.
 
Unitech International is one of the leading importers of special restricted scrap products in India. The scrap materials undergo cold and hot refining to manufacture specialty grade alloy ingots as per the domestic as well as global customer requirements. The company mainly exports these products to Europe, US, Asian and Africa.