Strategic realignment of precious metals recycling operation in Europe

BASF today announced a proposed plan to consolidate manufacturing operations at its Cinderford, Gloucestershire, UK precious metals recycling plant. The company will exit its non-strategic electronic scrap, gold and silver recycling business to dedicate its full focus on the fast-growing autocatalysts recycling market, in line with its long-term growth strategy and growing demand for platinum group metals (PGMs) such as platinum, palladium and rhodium.

Over the next several months, production at the Cinderford site would be shifted from a two plant operation to a single production site dedicated to automotive catalysts recycling. The electronic scrap materials plant would be closed, and operations at that portion of the site would be discontinued by the end of 2014. An on-site assay laboratory would also be closed by year end.

The proposed closures would result in the loss of approximately 50 jobs at the Cinderford site. The company has entered a period of consultation with employees and is committed to providing support and assistance.

“The measures we are planning will make us more responsive to market and customer needs,” said David Freidinger, BASF Vice President, Precious Metals Recycling & Refining.

“We will continue to make significant improvements to our manufacturing infrastructure for automotive catalysts recycling in Cinderford to optimize our production efficiencies and position BASF to cost-effectively meet growing demand for our high-quality precious metals products.”

BASF is a leading global manufacturer of precious metals products which are used in a variety of industrial applications, including automotive emissions control catalysts. The company is committed to growing its position in the platinum group metals recycling market and providing customers with a high-quality source of these metals for the long term.