Nederlandse Radiateuren Fabriek B.V. (NRF), a wholly owned subsidiary of Banco Products India Ltd is a leading supplier of engine cooling and climate control parts for the automotive aftermarket. The total offer exists of more than 11,000 references, which is rapidly growing. Combined with an increasing sales volume, NRF needs to expand its warehouse capacity. After the opening of a new 30,000 m2 in Poland early this year, NRF is now opening a brand-new 12,700 m2 warehouse in Valencia, Spain.
NRF is proud to announce a major expansion in Spain with the relocation of its Valencia warehouse. The company is doubling its warehouse space from 6,400 m2 to 12,700 m2. This development reflects the company's desire to meet growing customer demands for both the Iberian and overseas markets. In addition, it will improve NRF's operational efficiency and ensures that the company can adapt easily to future growth expectations.
With this substantial increase in space, NRF Spain will be better equipped to manage its inventory, streamline order fulfillment processes, and offer an even higher level of service to their partners. In addition to its primary warehouse function, this new site will also be used to organize local and international customer meetings.
Finally, NRF 's commitment to sustainability is also reflected in this expansion project, with plans to implement eco-friendly measures to reduce the environmental footprint of warehouse operations.
The relocation is scheduled to be completed by 1 February 2024. NRF does not expect any disruptions to their regular operations duringthe transition period. NRF will be the only tenant in this newly built location.
Shares of Banco Products (I) Limited was last trading in BSE at Rs. 498.60 as compared to the previous close of Rs. 470.35. The total number of shares traded during the day was 32844 in over 2641 trades.
The stock hit an intraday high of Rs. 503.00 and intraday low of 475.00. The net turnover during the day was Rs. 16285098.00.