Business Standard: July 08, 2016
Mumbai: Germany’s Heraeus, one of the world’s largest recyclers of reforming catalyst, has opened a new facility at Udaipur (Rajasthan) to recover precious metals from spent petroleum catalysts. The new site, operated by Ravindra Heraeus (the joint venture between Ravindra Choksi family and Heraeus), will offer India’s petrochemical industry more capacity and technology to recycle platinum and palladium in the country.
Indian companies will therefore benefit from larger national recycling facilities, which will provide less transport costs and easier file processing, faster recycling times and better transparency in the market and overall improved costing for catalyst recycling. The new technology will furthermore offer latest environmental and social standards. After the recycling process, Ravindra Heraeus offers its customers to either receive new precious metals products, precursors or the pure recycled precious metals.
“The new recycling facility of Ravindra Heraeus in India will allow our customers from the petrochemical sector to receive outstanding catalyst recycling standards in India. We will be the only globally active precious metal company with local recycling capabilities in this very important sector. Together with our trusted and long-term partner Ravindra we will be able to offer fast, local and first class recycling services to our customers,” commented Andre Christl, president of Heraeus Metal Management, the company’s precious metal recycling and trading unit.
Established in 1994, Ravindra Heraeus is one of India’s leading companies for precious metal products. Shailesh Choksi, managing director of the JV, stated, “Our company is specialised in the manufacturing of high-tech precious and specialty metal products and solutions. Ravindra Heraeus’ comprehensive refining services cover various types of precious metal containing material and make us the leading partner for the customer’s business.”
Heraeus, the technology group headquartered in Hanau (Germany), is a leading international family-owned company formed in 1851. The company focuses on themes such as the environment, energy, health, mobility and industrial applications. Its portfolio ranges from components to coordinated material systems which are used in a wide variety of industries, including the steel, electronics, chemical, automotive and telecommunications industries.
In the 2015 financial year, Heraeus generated revenues without precious metals of Rs 245.50 billion and a total revenue of Rs 881 billion. The company has approximately 12,500 employees worldwide in more than 100 subsidiaries in 38 countries.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.