ABB jumps on collaborating with Parason to scale up sustainable packaging in India
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ABB India is currently trading at Rs. 3375.50, up by 64.55 points or 1.95% from its previous closing of Rs. 3310.95 on the BSE.
The scrip opened at Rs. 3290.15 and has touched a high and low of Rs. 3379.95 and Rs. 3290.15 respectively. So far 6941 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3445.65 on 02-Sep-2022 and a 52 week low of Rs. 1944.60 on 28-Mar-2022.
Last one week high and low of the scrip stood at Rs. 3430.00 and Rs. 3260.05 respectively. The current market cap of the company is Rs. 71598.54 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 17.28% and 7.72% respectively.
ABB and Parason, one of the largest manufacturers & suppliers of pulp and paper machinery, have collaborated to automate and up-scale production of sustainable and compostable packaging solutions. The collaboration has been established to help Parason’s customers reduce their reliance on single-use plastics and Styrofoam packaging. These molded fiber tableware products are widely used across multiple industries across restaurants and cafes, food catering, transport, travel and industry canteens.
ABB robots, integrated with Parason’s machinery, will help to facilitate the effective manufacturing of agro-waste products - creating 100 percent eco-friendly compostable packaging solutions. ABB initially deployed 10 robots at Parason’s five forming machine cell and added another 20 robots at the end of last year.
ABB India is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future.
