Financial News
TANAKA Precious Metals to Establish Global Recycling Network, Promoting Worldwide Recycling of Precious Metals
August 31, 2023 at 07:00 AM EDT
TOKYO, Aug 31, 2023 - (ACN Newswire) - TANAKA Kikinzoku Kogyo K.K., a core company of TANAKA Precious Metals Group, announced it has launched regional business strategies towards establishing a Global Recycling Network, promoting the widespread recycling of precious metals.
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| "Global Recycle Network" Bases |
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| Ya'an Guangming Paite Precious Metal Co., Ltd. |
The expansion will encourage recycling at TANAKA's main recovering and refining bases: Ichikawa Plant and Shonan Plant in Japan for Southeast Asia, Hukou Plant for Taiwan, Marin Plant (Switzerland) for Europe, and North Attleborough Plant (Mass, USA) for North America.
As part of this expansion, Chengdu Guangming Paite Precious Metal Co., Ltd., a TANAKA affiliate company in China, will establish a new company, Ya'an Guangming Paite Precious Metal Co., Ltd., in Sichuan Province, scheduled to begin full-scale operations in summer 2024.
Of the approximate 5 billion yen investment to establish Ya'an Guangming Paite, TANAKA Kikinzoku Kogyo will hold 40% through its share in Chengdu Guangming Paite. The new company will manufacture precious metal compounds for various catalysts and plating, and recover production scrap using TANAKA's precious metal recycling technology.
Precious Metals Recycling Business Development in China
Ideally, the precious metals business in China should be integrated, as in other countries, with recovery and refining together with the manufacture of industrial precious metals products. The cooperation between TANAKA Kikinzoku Kogyo and Chengdu Guangming Paite has allowed for limited integration, but much scrap goes unrecovered.
Ya'an Guangming Paite will introduce the recycling process that TANAKA has developed over many years in Japan, to establish a process capable of recovering scrap that was previously unrecoverable. Through the new company, TANAKA will establish a one-stop precious metal recycling system within China, further developing its precious metal recycling business.
TANAKA hopes to contribute to global sustainability by effectively limiting the precious metal resources utilized in various industries, and believes that precious metal recycling will help reduce the use of mined precious metals in industrial products, thereby helping to reduce environmental impact.
About Chengdu Guangming Paite
Chengdu Guangming Paite Precious Metal Co., Ltd. was established in 2008 as a Chinese-foreign joint venture by CDGM Glass Co., Ltd. and Pushan International Co., Ltd. In 2012, it became a joint venture between CDGM Glass and TANAKA Kikinzoku Kogyo, following an equity transfer from Pushan International, and in 2014 the ownership ratio became 60% CDGM Glass and 40% TANAKA Kikinzoku Kogyo. It is engaged in the manufacture and sales of precious metal industry products and the precious metal recycling business in China.
About TANAKA Precious Metals
Since its foundation in 1885, TANAKA Precious Metals has built a portfolio of products to support a diversified range of business uses focused on precious metals. TANAKA is the leader in Japan in volumes of precious metals handled. TANAKA has not only manufactured and sold precious metal products for industry but also provided precious metals in such forms as jewelry and assets. As precious metals specialists, all Group companies in Japan and around the world collaborate and cooperate on manufacturing, sales, and technology development to offer a full range of products and services. With 5,355 employees, group sales for the year ending March 31, 2023, was 680 billion yen ($4.6 billion).
Global industrial business website:
https://tanaka-preciousmetals.com/en/
Product inquiries:
TANAKA Kikinzoku Kogyo K.K.
https://tanaka-preciousmetals.com/en/inquiries-on-industrial-products/
Press inquiries:
TANAKA Holdings Co., Ltd. (TSE: 7619)
https://tanaka-preciousmetals.com/en/inquiries-for-media/
Press Release: https://www.acnnewswire.com/docs/files/202308_EN.pdf
Source: Tanaka Holdings Co., Ltd.
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