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Vikas EcoTech Limited — Capital/Financing Update 2019
Feb 5, 2019
62285_rns_2019-02-05_f0c4e1b2-c520-4c22-957d-4ef9c27917e5.pdf
Capital/Financing Update
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VEL/PR/05/02/2019
05[th] February, 2019
The General Manager-Listing The General Manager-Listing National Stock Exchange Limited Bombay Stock Exchange Limited Exchange Plaza, Phiroze JeejeeBhoy Towers Bandra-Kurla Complex Dalal Street Fort, Bandra(E) Mumbai – 400 051 Mumbai – 400 001 Fax:- 022-26598235/36 Scrip Code- 530961 NSE Symbol- VIKASECO
Subject : Press Release – Vikas Ecotech signs distribution agreement for Organotin distribution in USA and North American markets.
Dear Sir/ Madam,
Please find attached herewith Press Release of the Company w.r.t. signing of Distribution agreement with Yuntinic Resources, Inc., USA – subsidiary of Yunnan Tin Co. Ltd. of China for Organotins distribution in USA and North American markets.
This is for your record and further dissemination.
Thanking you
For Vikas EcoTech Ltd.
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Preeti Rai
(Compliance Officer)
Corporate Office: 34/1, Vikas House, East Punjabi Bagh, New Delhi – 110026, India +91-11-4314 4444 / +91-11-4314 4444 [email protected]
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VEL signs Distribution Agreement with Chinese Conglomerate for Organotin distribution in USA & North American Market
5[th] Feb., 2019. New Delhi - Vikas EcoTech Ltd. (VEL) is pleased to announce a distribution agreement with Yuntinic Resources, Inc., USA subsidiary of Yunnan Tin Co. Ltd. of China for distribution of its Organotin range of PVC heat stabilisers in the USA and North American markets. USA is the world’s largest consumer of Organotins, accounting for over 50% of the global demand. This agreement with Yuntinic will provide Vikas EcoTech access to the largest consuming US market.
Yuntinic Resources was founded in 1994, as a wholly-owned subsidiary of Yunnan Tin Co. Ltd., the largest Tin metal producer in the world. They offer high quality Tin Metals and Tin Chemical products in Asia, Europe, and North America. The parent company Yunnan Tin Co. Ltd., has over 130 years of experience & all its products are made and processed under strict quality control systems and using world-class technologies.
As per the distribution agreement, Yuntinic Resources will begin sourcing Organotin stabilisers from Vikas EcoTech for supply and distribution to the US and North American markets. Vikas EcoTech’s Organotin sample shipments have already been approved by consumers in the US. VEL expects to reach an export run-rate of over 1,000 tonnes per annum of Organotins by FY20. Accordingly, the company expects Organotin capacity utilization to rise significantly in FY20.
Currently, Organotin contributes ~20-25% of VEL’s topline & the company expects this contribution to increase in future, aided by this distribution tie-up. Company expects to sustain its margins and ease the working capital cycle going forward as the export sales stabilize.
The signing of this distribution agreement with one of the world’s largest Organotin manufacturers endorses VEL’s high quality products being accepted & approved in the international market.
For Further information, please contact:
Sheetal Khanduja Go India Advisors +91 97693 64166 [email protected]
Tanya Khosla Go India Advisors +91 97693 87813 [email protected]
Corporate Office: 34/1, Vikas House, East Punjabi Bagh, New Delhi – 110026, India +91-11-4314 4444 / +91-11-4314 4444 [email protected]
About Vikas Ecotech Limited (www.vikasecotech.com) : Vikas Ecotech is an emerging player in the global arena of high-end specialty chemicals. An integrated, multi-specialty product solutions company, it produces a wide variety of superior quality, eco-friendly additives and rubber-plastic compounds. Its additives and rubber-plastic compounds are process-critical and value-enabling ingredients used to manufacture a varied cross-section of high-performance, environment-friendly and safety-critical products. From agriculture to automotive, cables to electricals, hygiene to healthcare, polymers to packaging, textiles to footwear, the company’s products serve a diverse range of global industry needs.
Disclaimer –
The information contained herein has been prepared to assist prospective investors in making their own evaluation of Vikas Ecotech Limited (hereinafter ‘the company’) and does not purport to be all-inclusive or to contain all of the information a prospective or existing investor may desire. This Information may include certain statements and estimates provided by the company with respect to the projected future performance of the company. Such statements, estimates and projections reflect various assumptions by management concerning possible anticipated results, which assumptions may or may not be actually achieved. Prospective investors will be expected to have conducted their own due diligence investigation regarding these and all other matters pertinent to investment in the company. This presentation may contain statements that are “forward looking statements.” The company’s actual future results may differ materially from those suggested by such statements, depending on various factors for which the company and its management does not take any responsibility.
Corporate Office: 34/1, Vikas House, East Punjabi Bagh, New Delhi – 110026, India +91-11-4314 4444 / +91-11-4314 4444 [email protected]