Heraeus Precious Metals has acquired Swiss precious metals processor, Argor-Heraeus.
The acquisition will turn Heraeus into the world’s largest provider of precious metals services, the company says.
Heraeus has had a stake in the company since 1986. It currently owns 33 percent; this acquisition will give it 100 percent ownership.
Headquartered in Mendrisio, Switzerland, Argor-Haraeus also has facilities in Germany, Italy, and Latin America. Its core business is refining mined gold, recycling precious metals, and the industrial processing of bars, coins, alloys, and semi-finished products.
In a statement, Heraeus CEO Jan Rinnert said that Argor’s expertise in gold and silver makes it a good fit for his company, which is largely focused on platinum group metals.
No financial details were released. The deal still needs regulatory approval.
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