Northam diversifies into the recycling market
Northam is pleased to advise that it has reached agreement to purchase a suite of PGM recycling equipment and the associated premises from A-1 Specialized Services Inc., a recycler of PGMs. The business is located in the state of Pennsylvania, United States of America.
The total value of the transaction amounts to US$10.7 million in cash.
Chief executive Paul Dunne said today that the transaction gives Northam a low-cost entrée into a key segment of the PGM market. “The recyclable material market from autocats is already well-established, large and continues to expand.
“We believe we have secured an excellent asset base of strategic future importance; an easily scalable business to meet growing demand in this sector; and exposure to a much broader market than we are able to access currently.”
Distributed by Russell & Associates
Tel: +27 (0)11 880 3924
Marion Brower: +27 (0) 71 493 0387
Jan Walker: +27 (0) 71 493 0429
NOTE TO EDITORS
A-1 SPECIALISED SERVICES has been a leader in the recycling of PGMs (platinum, palladium, rhodium) from catalytic converters. Included in the purchase are multiple ceramic catalytic converter processing lines and ancillary equipment, including sampling and separation systems, transportation and a materials handling fleet.
The premises consist of approximately 30 acres of land as well as buildings measuring approximately 301 000 sq.ft used for warehousing, manufacturing and office space.