AIA Engineering updates on customs duty levied by South African Government

The company through its overseas subsidiary, VEGA RSA Pty LTD, has sold approx. 4200 MT of Grinding Media in South Africa during current Financial Year.

Sep 23, 2021 11:09 IST India Infoline News Service

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AIA Engineering Limited informed the exchanges on Wednesday that recently South African Government has imposed a 15% customs duty on imports of Grinding Media from all countries except the European Union and the UK and under FTAs as a part of their internal policy reforms.

The company announced its likely impact on the company’s business and through its overseas subsidiary, VEGA RSA Pty LTD, has sold approx. 4200 MT of Grinding Media in South Africa during the current Financial Year.

At around 11.58 AM, AIA Engineering Ltd was trading at Rs1,996 per piece down by Rs26.8 or 1.32% from its previous closing of Rs2,022.80 per piece on the BSE.

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