11 November 2011

Nigerian company makes over $61m from exporting recycled metallic waste

The Managing Director of Sun and Sand Industries said countries seeking to create wealth should embrace recycling.

A Nigerian company, the Sun and Sand Industries Ltd., says 95% of raw materials are sourced from metallic wastes that are recycled for export to manufacture cars and ship parts.

The Managing Director of Sun and Sand Industries, Shweta Satija, disclosed this on Wednesday in Abuja.

Satija said that since 2005, the company had been recycling metallic waste from Nigeria, for export to high technology countries such as Japan, Hong Kong, UAE and India, for the manufacture of cars and ship engines, radiators and other parts.

According to her: “Recycling is an industry that adds value to the Gross Domestic Product (GDP) of a country and is always welcomed by any country that wants to create wealth and generate employment.”

Satija said that the company, which was recently awarded the Best Exporter of 2011 by the Nigerian Export Promotion Council, locally sources metallic waste of ferrous and non-ferrous alloy and recycles them for export.

“The recent award recognises us as a leading company with NIS certified Standard Organisation of Nigeria (SON) to export engineering products to technologically advanced countries such as Japan, Hong Kong and UAE,” she said.

“As one of the few companies handling metal commodities in the country, we are 100 percent export-oriented. We are adding value to the country’s GDP and contributing to the growth of the economy.''

Satija said that the company, with a workforce of more than 5,000 which is mostly made up of Nigerians, was determined to sustain the business of recycling in the country.

According to her, recycling of waste not only ensures that the environment is clean; it also creates jobs in the country and should be encouraged.

“We have 5 laboratories with the latest analytical equipment to check purity and do quality control of the products that cater for many industrial needs,” Satija said.

The Sun and Sand Industries Ltd., an Indian-owned company, with its headquarters and factory in Ota, Ogun State, made 61.43 million dollars in profit in 2010.

The company has liaison offices in London, Dubai and India and is the only Nigerian company in the London Metal Commodity Exchange.

Source: The Daily Times. By Emmanuel Okubenji. 10 November 2011.

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