Eco Recycling Partners with US-Based ERI to Form 50:50 Joint Venture for Enterprise Recycling & ITAD Solutions in India

In a major strategic expansion, the Board of Directors of Eco Recycling Limited (Ecoreco) approved the formation of an equal 50:50 Joint Venture (JV) company in India alongside US-based e-waste leader Electronic Recyclers International, Inc. (ERI).

Scope and Strategic Objective

The newly established Joint Venture will focus on capturing commercial opportunities across fast-growing environmental and corporate sustainability verticals in India, including:

IT Asset Disposition (ITAD): Secure handling, refurbishing, and retirement of enterprise IT equipment.

Secure Data Destruction: Certified data sanitization and physical destruction services.

Circular Economy & Resource Recovery: Industrial-scale e-waste recycling and valuable metal/material recovery.

Enterprise Recycling Solutions: Tailored e-waste compliance and sustainability management for corporate clients.

Governance & Capital Structure

Alongside approving the incorporation of the Indian JV entity, the Board approved the execution text for the Shareholders' Agreement (SHA) and Operating Agreement detailing governance guidelines:

Shareholding: Both Ecoreco and ERI will subscribe equally to the equity share capital (50:50 ratio).

Board Composition: The board of the new entity will consist of four directors, with equal representation of two nominees from Ecoreco and two from ERI.

Governance Framework: Defines operational ring-fencing, subscription rights, capital structure protection, and mutual obligations.

Shares of ECO RECYCLING LTD. was last trading in BSE at Rs. 498.35 as compared to the previous close of Rs. 514.55. The total number of shares traded during the day was 20790 in over 1100 trades.

The stock hit an intraday high of Rs. 516.80 and intraday low of 488.85. The net turnover during the day was Rs. 10298802.00.

Source : Equity Bulls

Keywords

ECORECYCLING INE316A01038 JV ElectronicRecyclersInternationalInc