JTL Industries announced that the company has been granted permission by the National Company Law Tribunal (NCLT) to commence operations at the RCI Industries & Technologies plant. JTL has entered in an MOU with RCI for production of up to 200MT/month of copper and brass alloys via job-work.
RCI Industries & Technologies, founded in 1992, is a listed entity with a market capitalization of Rs. 9 crores. The company's manufacturing plant in Baddi, Himachal Pradesh spans 27,000 sq. meters, boasting an installed capacity of 15,000 MTPA for copper and brass strips. Of this, up to 6,000 MTPA can be dedicated to the production of value-added products as per demand.
This highly value-accretive strategic acquisition was entered into considering JTL's goals to expand across new sectors, particularly defense supplies. As India is focused on self-reliance and indigenous manufacturing through initiatives like "Make in India," JTL recognized the acquisition as an opportunity to supply bullet casings and other non-ferrous metal products critical to the defense sector.
Once the transaction closure is approved by the NCLT, this plant will be under complete ownership of JTL and is expected to significantly contribute to the topline by FY27.