Ravindra Heraeus, a precious metal company, is a joint venture between the precious metal and technology company Heraeus located in Hanau (Germany) and Ravindra Choksi (India), with each partner holding a 50% stake in the joint venture.

The acquisition includes all know-how, technology, and business relationships with catalyst customers, while the production equipment will remain with the Indian company. Both partners have also concluded long-term agreements concerning contract manufacturing and precious metal recycling. Based on these agreements, Ravindra Heraeus will continue to produce precious metal catalysts for the Indian market and recycle used catalysts at its site in Udaipur on behalf of Evonik. The catalysts for Evonik's existing Indian customers will also be manufactured by Ravindra Heraeus.

Precious metal powder catalysts are used in the pharmaceuticals, fine chemicals and industrial chemicals industries to synthesise pharmaceutical or agricultural active ingredients. These industries India have posted above-average growth for several years.

"With Heraeus as a strong, capable partner, we can now supply our high-quality precious metal powder catalysts to customers in India from local production and offer them the complete package of services for precious metal management," said Dr. Wilfried Eul, head of Evonik’s catalysts business line. "This will allow us to step up our participation in India’s above-average growth in pharmaceuticals and fine chemicals, and expand our leading position in precious metal powder catalysts," says Eul.