India’s Fornnax targets global recycling leadership by 2030 with installation order in Sweden

SWEDEN – India’s Fornnax Technology has expanded into Sweden and Germany, supplying three shredding lines to Stockholm-based Bon Orbit AB with 10-tonne-per-hour capacity for PCR, TBR, and OTR tyres, while setting a revenue target of INR 2.7 billion (approximately US$32.3 million) for fiscal year 2026-27.

According to Tyre and Rubber Recycling, who first broke the news, the expansion is deliberate, informed by accurate market data and incentives.

Jignesh Kundariya, Managing Director of Fornnax Technology, announced at the India Rubber Expo 2026 in New Delhi that the Swedish order was finalized in the last quarter of 2025, with installation currently underway and lines expected to become operational by August 2026.

Bon Orbit AB will become one of the largest tyre shredding operators from a single location in Europe once operational.

The company also supplied an R2000 Secondary Shredder to Germany’s ESTATO Umweltservice GmbH, a subsidiary of the A.T.U Group that processes approximately 70,000 tons of end-of-life tyres annually.

Scaling Production and Workforce

To meet rising global demand, Fornnax is investing in a new 23-acre production facility in Ahmedabad, with Phase 1 scheduled to become operational by July 2026.

The company’s headcount has climbed to 300 employees, with plans to reach 500 once the new plant is fully commissioned, which would give Fornnax the largest workforce of any recycling machinery group globally.

The company reinvests 7.5 percent of annual revenue into research and development and another 7.5 percent into global marketing and branding.

Demonstrated Success at Mundra Facility

A significant catalyst for recent commercial success was the launch of Fornnax’s demonstration plant in Mundra, Gujarat, last year.

This facility allows potential clients to witness machinery performance in a live environment before committing to investment.

Kundariya noted that overall sales doubled following the opening of the Mundra site, as it provides customers with first-hand experience of operational lines, building confidence necessary for high-scale investments.

Domestic Market Leadership

While growing internationally, Fornnax continues to push ahead in the domestic market, commanding a 90 percent share of the Indian recycling machinery market.

Key installations completed at Fishfa Rubbers and GRP in 2025 included one 10-tonne tyre shredding line to each company, with the GRP line operational for six months and the Fishfa Rubbers line set to go live next month.

Financial Trajectory

The company generated INR 1.8 billion (approximately US$21.5 million) in revenue during fiscal year 2025-26, with the European market accounting for a substantial 30 percent of that total.

For fiscal year 2026-27, Fornnax has set a revenue target of INR 2.7 billion (approximately US$32.3 million), driven by a diversifying product portfolio and consistent annual growth of 50 to 80 percent over the last four years.

The company aims to become the number-one recycling machinery brand globally by 2030. Access the full story from the exclusive source here.

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