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Waste & Recycling June 18, 2018 01:30:37 PM

Heraeus to Open New Precious Metals Recycling Plant in China

Paul Ploumis
ScrapMonster Author
Recently, Heraeus had announced completion of major expansion works at its Wartburg, Tennessee precious metals recycling plant.

Heraeus to Open New Precious Metals Recycling Plant in China

SEATTLE (Scrap Monster): The German Technology Group Heraeus has announced that it will build a precious metals refinery and recycling plant in China. The Group plans to invest around $100 million in the plant, located in the City of Nanjing in China’s eastern Jiangsu province. The plant is expected to become online during third quarter this year and aims to take advantage of the huge demand growth for platinum group metals in the country. At full capacity, the plant is expected to provide employment to 300 to 350 people.

The plant will manufacture precious metals-based products for use in automobile, glass and other industries. Platinum and Palladium will be used in manufacture of catalytic converters used in engine to reduce vehicle emissions. The decision to establish the plant in the world’s biggest car market provides immense opportunities for the company to play a key role in the rapidly developing Chinese market, especially at a time when Chinese administration is undertaking a campaign to increase recycling and reduce pollution.

ALSO READ: Precious Metals Prices Forecast to Oscillate Between Extremes in 2018

According to Andre Christl, Head-Precious Metals Division, Heraeus, the demand for platinum group metals has been very strong. Currently, the country produces only a fraction of the platinum and palladium that it consumes. Christl noted that the company already has some refining capacity in China. However, to meet rapid demand growth in future, it plans to expand and consolidate its operations into one big factory, he said.

Recently, Heraeus had announced completion of major expansion works at its Wartburg, Tennessee precious metals recycling plant. The project which began in 2016 had expanded the plant’s pre-processing capacity to meet growing demand from customers. The expansion had resulted in addition of 20 jobs in the region. Meantime, U.S. Census Bureau data suggested that the precious metals scrap exports by the U.S. had surged by 42% through April this year.

Founded in 1851 and headquartered in Hanau, Germany, Heraeus focuses on the environmental, energy, electronics, health, mobility and industrial applications sectors.

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