Rajesh Exports bags 125 crore Valcambi order for Europe
Rajesh Exports announced recently that it has bagged a huge order amounting to Rs 125-crore from its recently acquired subsidiary Valcambi. The order entails creating special range of jewelry for European markets.
“The order is to be delivered within a period of four months. REL will be manufacturing this jewellery at its manufacturing plant at Bengaluru and is confident of supplying the order within the stipulated time period,” Rajesh Exports Ltd. (REL) said in a BSE filing. This order is of great importance to REL as it opens up an entirely new market for REL products, the company said.
The order is to be completed in Rajesh Export’s manufacturing unit in Bangalore. The manufacturing facility sprawls over 12 acres of land of area with a developed zone of 500000 sqft. The organization has as of late procured 100% stake in Valcambi, the world’s biggest gold refinery with central command at Switzerland. With this obtaining the organization has developed as the single biggest constituent of the worldwide gold business. The order of Rs 125 crore for Valcambi has added weight to the international profile of Rajesh exports.
The company said, “Valcambi has a strong marketing network in Europe developed over a period of more than 50 years, Valcambi has agreed to market ERL products in Europe provided the products meet European standards and designs. Ever since we announced the news to Bombay Stock Exchange, our share prices have gone up by several percent. This is an absolutely positive indication. The market response to our expansion plans has been positive. “
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