Elemental Holding Group has finalized the acquisition of Maryland Core Inc., a leader in the platinum group metals (PGM) recycling marketon the US east coast. ‘Thanks to our ambitious investment policy, we are strengthening our position in the global supply chain of economically strategic raw materials,’ declares Krzysztof Spyra, Management Board Member of Elemental Holding.
The acquisition of Maryland Core is another investment by Elemental Holding in the US platinum group metals (PGM) recycling market. In December 2019, the Group purchased a controlling stake in PGM of Texas, which has an extensive purchasing network in 11 locations across the United States, as well as a modern processing plant and chemical laboratory. Through organic growth and acquisitions in Europe, Asia and North America, the Elemental Holding Group has increased its platinum group metals (PGMs) production volume from 42,000 oz t (1.25 t) in 2016 to nearly 500,000 oz t (15 t) in 2020.
‘The integration of Maryland Core into the structure of the Elemental Holding Group is another important step in the implementation of our strategy. It envisages building the largest entity dealing with sourcing and green production of precious metals, including platinum group metals (platinum, palladium, rhodium) and copper group metals (silver, gold). As we integrate companies operating around the world, we invest in the latest technologies, thanks to which the production process is not only cost-effective, but also optimal for the environment,’ says Krzysztof Spyra, Management Board Member of Elemental Holding.