Ravindra Heraeus Private Limited, a company known for precious metal products acquired the Vizag site of Arora Matthey. The site is specialized in the production and recycling of precious metal catalysts.
Due to the acquisition, customers in the chemical and pharmaceutical industries will benefit from Heraeus’ range of high-quality precious metals catalysts and state-of-the-art recycling technology.
“We are happy to take over the business. Arora Matthey has long-standing relationships with customers, and we are committed to continue providing them with leading catalyst and recycling solutions”, said Shailesh Choksi, Managing Director, Ravindra Heraeus. The company produces heterogeneous precious metal catalysts at its main site in Udaipur. Choksi added, “This allows us to further expand our footprint to an advantageous location in south India, in line with our commitment to provide support close to our customers”.
The acquisition follows several significant investments in the company’s main site in Udaipur to expand its pyrometallurgical and wet chemical recycling capacities and capabilities. “This is an excellent addition to Ravindra Heraeus. It allows us to increase our participation in India’s growth in pharmaceuticals and strengthen our leading global position in precious metal recycling,” informed Steffen Metzger and Stefan Staubach, CEOs of Heraeus Precious Metals.
Ravindra Heraeus is one of India’s most renowned companies for precious metal products. The joint venture is equally owned by the Ravindra Choksi family and Heraeus. With the acquisition of the Arora Matthey Vizag site, Ravindra Heraeus is not only expanding its operating scale, but the investment also shows Heraeus’ strong commitment to the Indian market. The joint venture is celebrating its 30th anniversary this year.
“We are happy to take over the facility and to continue the growth path together with the local team,” emphasized Shailesh Choksi. The facility produces precious metal-containing catalysts that are used in the chemicals and pharmaceuticals industries.
As per the press release, the offering includes heterogeneous catalysts containing platinum group metals on a variety of catalyst carriers as well as homogenous catalysts. In addition, spent catalysts are returned and recycled – ensuring a full loop service, and keeping scarce precious metals in the economic cycle.
