DOCSLIB.ORG

Heraeus Holding Gmbh

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Heraeus Holding Gmbh Prospectus dated 18 May 2010 HERAEUS FINANCE GMBH (incorporated with limited liability in Hanau, Germany ) € % Notes due 2017 unconditionally and irrevocably guaranteed by HERAEUS HOLDING GMBH (incorporated with limited liability in the Federal Republic of Germany ) Issue price: % The € % Notes due 2017 (the Notes ) will be issued on 28 May 2010 by Heraeus Finance GmbH (the Issuer ) and will be unconditionally and irrevocably guaranteed by Heraeus Holding GmbH (the Guarantor ). The Issuer may, at its option, redeem all, but not some only, of the Notes at any time at par plus accrued interest in the event of certain tax changes as set out in § 5(2) of the Terms and Conditions. This prospectus has been approved by the Commission de Surveillance du Secteur Financier (the CSSF ) in its capacity as competent authority pursuant to the Luxembourg Act dated 10 July 2005 on prospectuses for securities (the Luxembourg Prospectus Act ), which implements Directive 2003/71/EC (the Prospectus Directive ). Application has been made to the Luxembourg Stock Exchange for the listing of the Notes on the Official List of the Luxembourg Stock Exchange and to trading of the Notes on the Euro MTF of the Luxembourg Stock Exchange. The Luxembourg Stock Exchange's Euro MTF is not a regulated market for the purposes of the Markets in Financial Instruments Directive (Directive 2004/39/EC). The Issuer has requested the CSSF to provide the competent authorities in Austria, Germany, and The Netherlands with a certificate of approval attesting that the Prospectus has been drawn up in accordance with the Luxembourg Prospectus Act. The Guarantor's long-term debt and short-term debt has been rated "BBB+" and "A-2", respectively, by Standard & Poor's Rating Services, a Division of the McGraw-Hill Companies Inc. ( Standard & Poor's ). The Guarantor has been rated "Baa1" by Moody's Investors Service, Inc. The Notes will be rated by Standard & Poor's. A rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time by the assigning rating organisation. The Notes will initially be represented by a temporary global note without interest coupons which will be deposited with a common safe-keeper for Euroclear Bank SA/NV and Clearstream Banking, société anonyme. Interests in the temporary global note will be exchangeable for interests in a permanent global note without interest coupons upon certification as to non-U.S. beneficial ownership. The issue price, the offer amount, the interest rate, the issue proceeds and the yield of the issue will be included in the Pricing Notice (as described under " Subscription, Offer and Sale " beginning on page 75) which will be published on the website of the Luxembourg Stock Exchange (www.bourse.lu) prior to the issue date of the Notes. An investment in Notes involves certain risks. Prospective investors should have regard to the factors described under the heading "Risk Factors" beginning on page 18. Joint Lead Managers Deutsche Bank HSBC Co-lead managers Commerzbank J.P. Morgan The Royal Bank of Scotland UniCredit Bank RESPONSIBILITY STATEMENT The Issuer and the Guarantor (the Responsible Person(s) ) accept responsibility for the information contained in this Prospectus. To the best of the knowledge of the Issuer and the Guarantor (each having taken all reasonable care to ensure that such is the case) the information contained in this Prospectus is in accordance with the facts and does not omit anything likely to affect the import of such information. NOTICE The only persons authorised to use this Prospectus in connection with the offering of the Notes are the Issuer, the Guarantor and the Managers (as described under " Subscription, Offer and Sale " beginning on page 75). This Prospectus is to be read in conjunction with all documents which are deemed to be incorporated herein by reference (see " Documents Incorporated by Reference " beginning on page 82). This Prospectus should be read and construed on the basis that such documents are incorporated and form part of the Prospectus. The Managers have not independently verified the information contained herein. Accordingly, no representation, warranty or undertaking, express or implied, is made and no responsibility or liability is accepted by the Managers as to the accuracy or completeness of the information contained or incorporated in this Prospectus. No person is or has been authorised by the Issuer or the Guarantor to give any information or to make any representation not contained in or not consistent with this Prospectus or any other information supplied in connection with the offering of the Notes and, if given or made, such information or representation must not be relied upon as having been authorised by the Issuer, the Guarantor or any of the Managers. Neither this Prospectus nor any other information supplied in connection with the offering of the Notes (a) is intended to provide the basis of any credit or other evaluation or (b) should be considered as a recommendation by the Issuer, the Guarantor or any of the Managers that any recipient of this Prospectus or any other information supplied in connection with the offering of the Notes should purchase any Notes. Each investor contemplating purchasing any Notes should make its own independent investigation of the financial condition and affairs, and its own appraisal of the creditworthiness, of the Issuer and/or the Guarantor. Neither this Prospectus nor any other information supplied in connection with the offering of the Notes constitutes an offer or invitation by or on behalf of the Issuer or the Guarantor or any of the Managers to any person to subscribe for or to purchase any Notes. Neither the delivery of this Prospectus nor the offering, sale or delivery of the Notes shall in any circumstances imply that the information contained herein concerning the Issuer and/or the Guarantor is correct at any time subsequent to the date hereof or that any other information supplied in connection with the offering of the Notes is correct as of any time subsequent to the date indicated in the document containing the same. The Managers expressly do not undertake to review the financial condition or affairs of the Issuer or the Guarantor during the life of the Notes or to advise any investor in the Notes of any information coming to their attention. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended, (the US Securities Act ) and are subject to U.S. tax law requirements. Subject to certain exceptions, the Notes may not be offered, sold or delivered within the United States or to U.S. persons. For a further description of certain restrictions on the offering and sale of the Notes and on distribution of this document, see "Subscription, Offer and Sale " beginning on page 75. 2 This Prospectus does not constitute an offer to sell or the solicitation of an offer to buy the Notes in any jurisdiction to any person to whom it is unlawful to make the offer or solicitation in such jurisdiction. The distribution of this Prospectus and the offer or sale of Notes may be restricted by law in certain jurisdictions. The Issuer, the Guarantor and the Managers do not represent that this Prospectus may be lawfully distributed, or that the Notes may be lawfully offered, in compliance with any applicable registration or other requirements in any such jurisdiction, or pursuant to an exemption available thereunder, or assume any responsibility for facilitating any such distribution or offering. In particular, except as indicated in the " Subscription, Offer and Sale – Public Offer " section beginning on page 75, no action has been taken by the Issuer, the Guarantor or the Managers which is intended to permit a public offering of the Notes or the distribution of this Prospectus in any jurisdiction where action for that purpose is required. Accordingly, no Notes may be offered or sold, directly or indirectly, and neither this Prospectus nor any advertisement or other offering material may be distributed or published in any jurisdiction, except under circumstances that will result in compliance with any applicable laws and regulations. Persons into whose possession this Prospectus or any Notes may come must inform themselves about, and observe, any such restrictions on the distribution of this Prospectus and the offering and sale of Notes. In particular, there are restrictions on the distribution of this Prospectus and the offer or sale of Notes in the United States, the United Kingdom and the European Economic Area, see " Subscription, Offer and Sale " beginning on page 75. The Notes are intended to be held in a manner which will allow Eurosystem eligibility. This means that the Notes are intended upon issue to be deposited with one of Euroclear or Clearstream, Luxembourg as common safekeeper and does not necessarily mean that the Notes will be recognised as eligible collateral for Eurosystem monetary policy and intra-day credit operations by the Eurosystem either upon issue or at any or all times during their life. Such recognition will depend upon satisfaction of the Eurosystem eligibility criteria. IN CONNECTION WITH THE ISSUE OF THE NOTES, HSBC BANK PLC AS STABILISING MANAGER (THE "STABILISING MANAGER") (OR PERSONS ACTING ON BEHALF OF THE STABILISING MANAGER) MAY OVER-ALLOT NOTES OR EFFECT TRANSACTIONS WITH A VIEW TO SUPPORTING THE MARKET PRICE OF THE NOTES AT A LEVEL HIGHER THAN THAT WHICH MIGHT OTHERWISE PREVAIL. HOWEVER, THERE IS NO ASSURANCE THAT THE STABILISING MANAGER (OR PERSONS ACTING ON BEHALF OF THE STABILISING MANAGER) WILL UNDERTAKE STABILISATION ACTION. ANY STABILISATION ACTION MAY BEGIN ON OR AFTER THE DATE ON WHICH ADEQUATE PUBLIC DISCLOSURE OF THE TERMS OF THE OFFER OF THE NOTES IS MADE AND, IF BEGUN, MAY BE ENDED AT ANY TIME, BUT IT MUST END NO LATER THAN THE EARLIER OF 30 DAYS AFTER THE ISSUE DATE OF THE NOTES AND 60 DAYS AFTER THE DATE OF THE ALLOTMENT OF THE NOTES.
Load more

Recommended publications
  • Heraeus Precious Appraisal I 1 Precious Metals Review
    HERAEUS PRECIOUS Ed. 7 APPRAISAL st 1 March 2021 MARKET SPOTLIGHT Record dollar-short positions is now an alert on gold Fiscal and monetary policy in the US and Europe provides support for gold. The Federal Reserve and ECB are both expanding their balance sheets at roughly the same rate, at around $120 billion and €100 billion per month, respectively. With a Democrat-controlled Congress, more fiscal spending is likely in the US which could result in higher inflation (gold positive) as the economy recovers. This could lead to a further fall in the dollar index (DXY), which should also help to propel gold higher. Dollar index Gold price (rhs) DXY vs. gold price $/oz Dollar index trend Gold price trend 200 2,500 2,000 150 1,500 100 1,000 500 50 0 Au DXY Au DXY Au DXY Au DXY 0 -500 1971 1976 1981 1986 1991 1996 2001 2006 2011 2016 2021 Source: SFA (Oxford), Bloomberg Vigilance is needed, though, as speculative traders are overly short the dollar. The concern is that when positioning is this one-sided, the trend is usually near its end and a reversal is not far off. Financial conditions in the US are extremely loose and are unsustainable, despite Federal Reserve Chairman Jay Powell reiterating that the Fed will remain very accommodative for now. At this stage, easy fiscal and monetary conditions are priced in to gold. On this basis, any rumoured shift to tighter conditions in the US could strengthen the dollar, which is negative for gold. Speculator's net FX positions vs.
    [Show full text]
  • Carbon Emitters Dry Textile Print on T-Shirts
    Carbon emitters dry textile print on t-shirts Carbon infrared emitters optimize the drying of prints on T-shirts and other textiles in dryers by Calmatech BV, The Netherlands. Compared to the previously used halogen emitters, they use energy much more efficiently and only need half the time. Calmatech BV is a worldwide known manufacturer of flash cure dryers and tunnel dryers for textiles. The dryers can be used on different carousels as well as on mobile stands. The heart of the dryers are medium wave carbon infrared emitters from Heraeus, which replaced conventional halogen emitters. The carbon emitters are so cleverly arranged in the dryer that a very even heat distribution on the textile surface is achieved. The medium wavelength is optimally suited for drying on the surface. In contrast, the short-wave halogen emitters used previously emitted much energy through the paint and the textile. For example, drying every screen ink with the halogen emitters took seven to eight seconds, while carbon emitters now only need two to three seconds. In addition, the system is no longer unnecessarily heated with. Carbon infrared emitters respond in seconds and are therefore suitable for pulsing; they only have to be switched on when they are needed. In contrast, the halogen emitters had to be kept constantly on standby and thus consumed power permanently. Jurgen van Oostrum, Managing Director at Calmatech BV, is convinced: "The switch to carbon infrared emitters has made our textile flash cure much more efficient. Our customers particularly appreciate the power savings due to the low drying times and the textile-friendly heating.
    [Show full text]
  • Getting Most Value from Your Petrochemical Catalysts
    Getting most value from your Petrochemical Catalysts Steffen Kitzing, Thomas Trin, Dr. Viren Pathare Precious Metal (PM) catalysts are an integral part of Downstream Processing and Petrochemical Manufacturing. The Petrochemical Industry uses PM catalysts, mostly Platinum on alumina, to produce high octane components of gasoline from naphtha and to produce many critical organic chemicals such as cyclohexane for polymer fabrics. It is estimated that over 642 refineries worldwide process 87 million bpd of crude oil1 using 41 Thousand MT of PM catalysts2. On an average, these catalysts contain 0.25% Platinum; so a total of 102.5 MT of Platinum is deployed in the industry. At today’s prices, it represents an investment of $3.13 billion! Needless to say, significant value optimization can be achieved by judicious management of these assets. Over time, all catalysts lose their functional ability due to deposits of carbon, sulfur and metals. Or they may suffer from pore closures and lose effective surface area. Although they can be regenerated a few times, eventually they must be retired as ‘spent’ catalysts and replaced with fresh catalyst in a catalyst ‘change-out’ event. In general this replacement period is 5 to 7 years; although for some special catalysts it can be as short as 2 years. The Petrochemical Industry is really advanced when it comes to efficient use and recycling of metals used in these catalysts, especially the precious metals such as Platinum, Palladium and the special metal Rhenium. The Industry collaborates with companies like Heraeus Metal Management to efficiently recover more than 95% of the precious metals3.
    [Show full text]
  • Competitive Impact Statement: U.S. V. Heraeus Electro-Nite Co., LLC
    Case 1:14-cv-00005 Document 3 Filed 01/02/14 Page 1 of 21 UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA UNITED STATES OF AMERICA, Plaintiff, v. HERAEUS ELECTRO-NITE CO., LLC, Defendant. COMPETITIVE IMPACT STATEMENT Plaintiff United States of America (“United States”), pursuant to Section 2(b) of the Antitrust Procedures and Penalties Act (“APPA” or “Tunney Act”), 15 U.S.C. § 16(b)-(h), files this Competitive Impact Statement relating to the proposed Final Judgment submitted for entry in this civil antitrust proceeding. I. NATURE AND PURPOSE OF THE PROCEEDING On September 7, 2012, defendant Heraeus Electro-Nite Co., LLC (“Heraeus”) acquired substantially all of the assets of Midwest Instrument Company, Inc. (“Minco”). After investigating the competitive impact of that acquisition, the United States filed a civil antitrust Complaint on January 2, 2014, seeking an order compelling Heraeus to divest certain assets and other relief to restore competition. The Complaint alleges that the acquisition substantially lessened competition in the U.S. market for the development, production, sale and service of single-use sensors and instruments used to measure and monitor the temperature and chemical composition of molten steel (“S&I”), in violation of Section 7 of the Clayton Act, 15 U.S.C. § Case 1:14-cv-00005 Document 3 Filed 01/02/14 Page 2 of 21 18. As a result of the acquisition, prices for these products did or would have increased, delivery times would have lengthened, and terms of service would have become less favorable. Concurrent with the filing of this Competitive Impact Statement, the United States and Heraeus have filed an Asset Preservation Stipulation and Order and a proposed Final Judgment.
    [Show full text]
  • Herapur® High-Class Catalysts from Heraeus High Efficiency for a Cleaner Tomorrow
    HeraPur® High-class Catalysts from Heraeus High efficiency for a cleaner tomorrow In the chemical industry it is nearly impossible to find The products are used, for instance, in the petro­ a process which runs without a catalyst. This wide­ chemical industry for the production of aromatic spread prevalence is easily explained if one examines compounds, in the manufacture of high­purity technical their exceptionally advantageous properties more close­ gases or in fuel cells. Emission control catalysts are ly. A catalyst accelerates chemical reactions, increases offered for small engines, motorcycles and auto­­mobiles, the reaction yield at reduced energy input and after­ commercial vehicles, ships and industrial diesel wards remains unchanged. engines. Furthermore, they are used worldwide in the purification of industrial exhaust gases. Our product programme comprises chemical catalysts, emission control catalysts and special catalysts. Various support systems and coatings, individually tailored to customers’ requirements, serve as the basis. Six reasons why customers prefer Heraeus catalysts: our all-inclusive catalysts package accessible and reliable technical support The Heraeus all-inclusive variety of production sizes and design criteria catalysts package first-class research and development facilities extensive experience custom-made catalysts Service Customer­specific solutions, which go beyond the use of standard catalysts, require an individual catalyst Precious metal trading optimisation. Close cooperation between the Heraeus Heraeus is the global market leader in precious metal development Iaboratory and the customer enable tailor­ trading via our trading centres in Hanau, New York and made solutions. Hong Kong. Besides the business of buying and selling, financing models on the basis of precious metal Ieasing Toll production of catalysts can be offered to our catalyst customers.
    [Show full text]
  • PRECIOUS METALS WEEKLY 11 August 2006
    PRECIOUS METALS WEEKLY 11 August 2006 ALEXANDER ZUMPFE TEL.: +49 (0) 6181 / 35-5128 Precious Metals Weekly 11 August 2006 HIGHLIGHTS TERROR ALERT FAILS TO DELIVER SUSTAINABLE SUPPORT TO GOLD MINERS PLAN TO LEAVE INCREASING AMOUNT OF FUTURE PRODUCTION UNHEDGED SUMMER MOOD KEEPS PGMS RANGE BOUND. Heraeus Metallhandelsgesellschaft mbH, Page 1 PRECIOUS METALS WEEKLY 11 August 2006 A TERROR ALERT IN THE UK FAILED TO expectation that consumers will wait for lower prices DELIVER SUSTAINABLE SUPPORT FOR THE and start buying on dips as soon as the metal breaks through its support around $ 315. Demand is PRECIOUS METALS COMPLEX: ‘SAFE HAVEN” then likely to strengthen further around the more GOLD MOVED UP INITIALLY AFTER THE NEWS pivotal $ 300. CAME OUT BUT RAN INTO HEAVY SELLING LATER THE DAY – SILVER FOLLOWED SUIT. RHODIUM THE FED LEFT INTEREST RATES UNCHANGED AT 5.25% ON TUESDAY’S MEETING AND Rhodium continues to see very limited two-way business which keeps prices caught between NOTED THAT “ECONOMIC GROWTH HAS $4,575 and $4,675. Activities should remain limited MODERATED” AND “INFLATION PRESSURES during the summer holiday period and hence we SEEM LIKELY TO MODERATE OVER TIME”. IN don’t expect prices to move significantly from current levels. THE AFTERMATH OF THE DECISION THE There are no changes to report in the ruthenium-($ DOLLAR FACED A SHORT TERM SELL OFF - - 170) and the iridium markets ($400 an ounce). ONLY TO RECOVER IN THE FOLLOWING SESSION. GOLD PLATINUM News about an averted terrorist attack on flights going from the UK to the United States initially supported the gold price on Thursday – the metal The summer doldrums continue to weigh on soared to $ 654 before significant long liquidation consumer demand for platinum.
    [Show full text]
  • Carbon-Lab E Wireless
    Carbon-Lab E Wireless Fast carbon determination in liquid steel Carbon-Lab E Wireless Fast carbon determination in liquid steel Temperature measurement and carbon determination using wireless transmission With Carbon-Lab E Wireless you can receive the liquidus temperature and carbon content results wirelessly. Located near the handle of the optional QUBE measurement lance is the QUBE O battery-powered wireless transmission module, which transfers the temperature and carbon determination data directly to the Carbon-Lab E Wireless instrument. Up to 1000 measurements can be taken using the QUBE O with its long-life lithium ion batteries. The batteries are charged using the dedicated charging station. Safety-related benefits ■ no accident risks through cables lying around ■ no repairs in security restricted and hazardous environments Carbon-Lab E Wireless Cost-relevant advantages The ever-increasing demands on measurement technology require ■ no wiring or cable connection between the submersible the integration of new electronics hardware, interfaces, and in measuring probe and measuring instrument, cost savings for particular the software. repairing of damaged cables The innovative Carbon-Lab E Wireless instrument fully meets these ■ no attachment of cable conduit/terminal blocks expectations. Its features are reliability, ease of use, and flexibility in application. With the changeable parameter flash memory it is possible to backup and restore the instrument parameter settings on every Carbon-Lab E Wireless. The Carbon-Lab E Wireless measures and analyzes the liquidus temperature and gives a fast determination of the carbon content in the liquid steel. Sensors are connected to the instrument through the manually operated QUBE Wireless lance or with conventional wired lances.
    [Show full text]
  • Heraeus Sustainability Report 2018
    Sustainable. Viable. Responsible. 2018 Sustainability Report CONTENTS 17 A sustainable approach to our business activities 36 The employer’s responsibility 17 Quality management and product responsibility 37 Strengthening corporate culture through employee 18 Value creation at Heraeus and leadership development 19 Heraeus areas of activity 40 Employee health 4 About this report 20 Promoting innovation 42 A broad-based commitment to society 6 About Heraeus 23 Sustainable procurement and responsibility when 42 Working for the common good at every location 7 Global Business Units trading in precious metals 44 Heraeus foundations help to improve education 8 New markets and business models 24 Ensuring due diligence and promote social cohesion 26 Recycling at Heraeus 27 Conducting our own mine audits to ensure that standards are met 10 Sustainability and Guiding Principles 46 Key figures 10 Responsibility governance 47 Index 11 Sustainability Roadmap 30 Sustainability in production and beyond 50 Publication credits 14 Framework and compliance 31 Environmental and safety aspects 15 Integrating sustainability into business processes 15 Stakeholder dialogue 2018 Heraeus Sustainability Report 2 FOREWORD Dear readers, As a family-owned company with a long-term orientation, we have In light of demographic change, the topic of health is also increasingly Maintaining sustainable business relationships in order to work to- naturally focused on sustainability in our business activities for gen- important. Here, product developments by Heraeus are helping to im- gether on products for a better future is an important goal for us. erations. Those who aim to succeed in the long term must respon- prove the quality of life, for example by providing cements for hip and Therefore, we have initiated a broad, systematic customer survey in sibly manage all the resources involved in the value creation chain.
    [Show full text]
  • Factsheet Agultra-HR
    Silver Alloy Wire for Improved Reliability for IC Packaging Benefits & Features § Improved reliability for IC packaging § Improved BST and SPT at time zero § Improved BST and SPT for HAST Electrical Resistivity Stitch Pull Test (SPT) Ball Shear Test (BST) 10 20 SPT [g] BST [g] 4.66 8 16 /cm] 3.87 Ω [µm 3.2 6 12 2.13 Resistivity 4 8 1.66 2 4 0 0 AgLite AgUltra 2N Au 4N Au 2N Au AgUltra 2N Au AgUltra Corrosion Test Results Temperature: 130 °C, Humidity: 85 % RH, Pressure: 2.7 kg/cm2, Time: 4 hours 20 10 8 15 6 [g] [g] 10 BST BPT 4 5 2 0 0 Ohr 4hrs Ohr 4hrs Ohr 4hrs Ohr 4hrs AgUltra AgUltra Recommended Technical Data of For other diameters, please contact Heraeus Bonding Wires sales representative. Diameter (Mils) 0.7 0.8 0.9 1.0 1.2 1.5 Elongation (%) 3 ~ 12 3 ~ 12 3 ~ 12 3 ~ 12 3 ~ 12 3 ~ 12 Breaking Load (g) > 3 > 4 > 6 > 8 > 12 > 20 www.lunis.de_HET15003-0516-1 Grain Size (um) Free Air Ball 2 ~ 7 2 ~ 7 2 ~ 7 2 ~ 7 2 ~ 7 2 ~ 7 , Layout: HAZ 2 ~ 7 2 ~ 7 2 ~ 7 2 ~ 7 2 ~ 7 2 ~ 7 N Wire 1 ~ 4 1 ~ 4 1 ~ 4 1 ~ 4 1 ~ 4 1 ~ 4 Hardness (Hv) Free Air Ball 58 ~ 68 58 ~ 68 58 ~ 68 58 ~ 68 58 ~ 68 58 ~ 68 HAZ 58 ~ 68 58 ~ 68 58 ~ 68 58 ~ 68 58 ~ 68 58 ~ 68 Wire 70 ~ 80 70 ~ 80 70 ~ 80 70 ~ 80 70 ~ 80 70 ~ 80 Density (g/cm3) 10.60 10.60 10.60 10.60 10.60 10.60 Fusing Current (mA) 299 331 366 406 498 680 Resistivity (μΩ cm) @ 20 °C 3.87 3.87 3.87 3.87 3.87 3.87 Melting Point (°C) 1005 1005 1005 1005 1005 1005 Thermal conductivity (W*m-1*K-1) @ 25 °C 202 202 202 202 202 202 Migration Results 12.0 Anode [µm/s] 8.3 Ag wire 3 mil Ag wire DC 1000 μm 5V Migration rate 4.3 Ag wire 3 mil Ag wire 3.3 3.1 Cathode Glass Plate .
    [Show full text]
  • Heraeus Precious Forecast 2021 2021 Outlook
    HERAEUS PRECIOUS FORECAST 2021 2021 OUTLOOK Potential remains for further price upside The resurgence of Covid-19 in many countries has increased The platinum price has risen more than the fundamentals sug- As the smallest PGM markets, rhodium and iridium have been the uncertainty of forecasts for 2021. The vaccine rollout is gest is warranted. Positive news on the hydrogen economy and the most impacted by the restrictions to refined metal avail- slower in some regions than others and it will take several the substitution of platinum into some gasoline autocatalysts ability caused by processing problems in South Africa. Rho- months to cover a significant proportion of the vulnerable pop- provide only a small boost to demand this year. The market is dium and iridium prices have both hit record levels and in ulation. Variant strains have appeared which seem to be even expected to have an industrial surplus well in excess of 1 moz the near term could go higher. The situation should improve more contagious and mutations could reduce the efficacy of this year which will need to be absorbed by investment for a later in Q1’21 as refined output returns to more normal levels. the vaccines. With some countries reimposing lockdowns, the third consecutive year. That may be possible since platinum Ruthenium has so far been less affected. steady economic recovery previously envisioned for 2021 will still looks relatively good value with its large discount to both be less synchronised and what economic recovery there has gold and palladium. been following the first wave of infections could be temporar- ily reversed.
    [Show full text]
  • Palladium Sponge Min. 99.95 %
    SAFETY INFORMATION SHEET Palladium Sponge min. 99.95 % This document is not a safety data sheet, but it is based on the GHS regulations. Version Revision Date: Date of last issue: 10.10.2019 2.0 03.08.2020 Date of first issue: 30.07.2019 SECTION 1: Identification of the substance/mixture and of the company/undertaking 1.1 Product identifier Trade name : Palladium Sponge min. 99.95 % Product code : 85100033 REACH Registration Number : 01-2120140175-66-0003 Company : Heraeus Deutschland GmbH & Co. KG 01-2120140175-66-0008 Company : Heraeus Metals Germany GmbH & Co. KG 01-2120140175-66-0019 Company : Heraeus Metal Processing Ltd 01-2120140175-66-0005 Company : Argor-Heraeus Deutschland GmbH Heraeus companies not listed here do not have a REACH registration, because the companies either are located outside the EU or they are not required to register due to the annual amount of produced/imported substance. Substance name : palladium CAS-No. : 7440-05-3 EC-No. : 231-115-6 1.2 Relevant identified uses of the substance or mixture and uses advised against Use of the Sub- : Industrial use stance/Mixture 1.3 Details of the supplier of the safety data sheet Company : Heraeus Deutschland GmbH & Co. KG Heraeusstr. 12-14 63450 Hanau Telephone : +496181351 E-mail address of person : [email protected] responsible for the SDS (Heraeus Holding: EHS Chemical Safety) 1.4 Emergency telephone number Emergency telephone num- : +49 6132-84463 ber International Emergency Number This telephone number is available 24 hours per day, 7 days per week. 1 / 8 SAFETY INFORMATION SHEET Palladium Sponge min.
    [Show full text]
  • Press Release Heraeus Porocarb® Enables Lithium-Ion Battery
    Press Release Heraeus Porocarb® enables Lithium-Ion battery manufacturer to increase C-rate performance and reduce formation time by 40% Latest customer implementation confirms battery additive’s ability to deliver real-world results in improved battery performance. KLEINOSTHEIM, Germany- June 19, 2018- Heraeus Battery Technology today announced that Porocarb®, its innovative line of functional carbon additives, has been successfully implemented in a customer’s lithium-ion battery production in Taiwan. This marks the company’s first implementation in a full manufacturing environment and represents a major step forward in the additive’s global commercial rollout. The implementation project with LiS, a Taiwan-based lithium-ion battery developer, began in mid-2017. Heraeus worked with LiS production experts to develop a special formulation of Porocarb to the specific technical manufacturing requirements of one of its customers in central Chaina. Porocarb (a non-agglomerated, highly-porous carbon with fully interconnected macroporosity) and carbon nano tubes were then implemented as a pre-formulated carbon system. The non-agglomerated Porocarb particles are designed to maintain their open porosity, even under high packaging densities, allowing for easy electrolyte access. This open porosity significantly improves the ionic conductivity, reduces diffusion limitations, and increases power densities and charge/discharge acceptance. Once implemented into the customer’s production process, the synergetic effect between Porocarb and carbon nano
    [Show full text]