- Acquisition of precious metal powder catalysts from Ravindra Heraeus
- Local production strengthens market position in India's fast-growing pharmaceuticals and fine chemicals markets
Evonik Industries, Essen, has acquired the precious metal powder catalysts business of Ravindra Heraeus Pvt. Limited, Udaipur (Rajasthan, India) on June 3, 2010. As stipulated in the agreement, all know-how, technology, and business relationships with catalyst customers will pass from Ravindra Heraeus to Evonik, while the production equipment will remain with the Indian company. Both partners have also concluded long-term agreements concerning contract manufacturing and precious metal recycling. Based on these agreements, Ravindra Heraeus will continue to produce precious metal catalysts for the Indian market and recycle used catalysts at its site in Udaipur on behalf of Evonik. The catalysts for Evonik's existing Indian customers are currently imported from Germany. In the future, these products will also be manufactured by Ravindra Heraeus in India.
Precious metal powder catalysts are used in the pharmaceuticals, fine chemicals and industrial chemicals industries for such purposes as selective and cost-effective chemical synthesis of pharmaceutical or agricultural active ingredients. The pharmaceuticals and fine chemicals markets in India have posted above-average growth for several years, owing in part to the outsourcing strategies of pharmaceutical and agricultural companies, which no longer produce the active ingredients themselves.
“With Heraeus as a strong, capable partner, we can now supply our high-quality precious metal powder catalysts to customers in India from local production and offer them the complete package of services for precious metal management," said Dr. Wilfried Eul, head of Evonik’s Catalysts Business Line. For the customer, this means a short processing time and integration into the local precious metal loop to avoid import duties and lengthy importation processes. “This will allow us to step up our participation in India’s above-average growth in pharmaceuticals and fine chemicals, and expand our leading position in precious metal powder catalysts,” says Eul. Currently, Evonik produces precious metal powder catalysts at its four sites in Hanau (Germany); Tsukuba (Japan); Americana (Brazil); and Calvert City (Kentucky, USA). The company will just these days commission its fifth plant, newly built in Shanghai (China).
Ravindra Heraeus, a precious metal company, is a joint venture between the worldwide leading precious metal and technology company Heraeus located in Hanau (Germany) and the family enterprise Ravindra Choksi (India). Each partner holds a 50 percent stake in the joint venture.
Evonik is a leading global supplier of catalytic system solutions. It offers an extensive range of catalysts from a single source, as well as integrated services for customers in the life sciences, fine chemicals, industrial chemicals, chemical intermediates, petrochemicals, and polymer industries.
Evonik Industries is the creative industrial group from Germany. In our core business of specialty chemicals, we are a global leader. In addition, Evonik is an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our company’s performance is shaped by creativity, specialization, continuous self-renewal, and reliability.
Evonik is active in over 100 countries around the world. In its fiscal year 2009 about 39,000 employees generated sales of about €13.1 billion and an operating profit (EBITDA) of about €2.0 billion.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.