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© Argor Heraeus Business | April 04, 2017

Heraeus acquires Swiss precious metals processor, Argor-Heraeus

Heraeus Precious Metals (HPM), has acquired Swiss precious metals processor, Argor-Heraeus (Argor).
In addition to its current share of approximately 33 percent, Heraeus will also acquire the stakes of former co-owners, Commerzbank and Münze Österreich, and the shares of Argor’s management.

Headquartered in Mendrisio, Switzerland, it also has facilities in Germany, Italy, and Latin America. The company employs over 300 people and occupies a key position at the center of the supply chain for precious metal processing. Argor’s key business focuses on refining mined gold, recycling precious metals, and the industrial processing of bars, coins, alloys, and semi-finished products. This makes Argor an ideal partner for all players in the precious metals business: mines, precious metals traders, central and commercial banks, mints, jewelry and watch manufacturers, and industrial clients.

“The complete acquisition of the shares will now enable Heraeus to fully benefit from Argor’s expertise and processing capacity for gold and silver. Argor is the ideal match for Heraeus’ existing precious metals business which has largely focused on platinum group metals. The takeover will allow Heraeus to expand its business and become the world’s largest precious metals service provider,” says CEO Jan Rinnert on the reasons for the takeover.

Heraeus has held a stake in Argor since 1986. The parties have agreed not to disclose financial details of the deal. Approval by the relevant authorities is required before the deal can be concluded.

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November 14 2017 8:30 PM V8.8.9-2