Metalor casts the first gold bar at its new Singapore refinery
Neuchâtel (Switzerland) – 13th June 2013
Metalor Technologies, the leading worldwide precious metals refiner based in Neuchâtel (Switzerland), has cast its first gold bar at its new refinery in Singapore.
In a previous press release dated 15th November 2012, Metalor announced plans to build a gold refinery and bullion product manufacturing plant in Singapore, that was expected to be completed by the second half of 2013.
Further to this announcement, and in accordance with its implementation schedule, Metalor is pleased to announce that it has today, 13th June 2013, successfully cast the first gold bar at its new plant in Singapore, thus officially starting its operations there.
“We are delighted that Metalor’s refining facilities in Singapore are being deployed according to plan. The Singapore Government, as well as other major partners like EDB (the Singapore Economic Development Board) and International Enterprise (IE) Singapore, have contributed significantly to this successful deployment, and we would like to thank them sincerely for their precious support”, comments Scott Morrison, Chairman of Metalor.
As part of this first implementation step, Metalor’s service range will consist mainly of precious metal evaluation and gold bar manufacturing services. Another significant step will be the introduction of scraps evaluation, beginning July 2013.
Implementation of full refining capacity should be completed by the end of the year, with the transfer of operations from the current site to a larger plant offering a higher production capacity. Drawings of this final site are ready and construction work are planned to start in July.
Once full deployment is complete, total capacity should reach approximately 3 tonnes per week for the refining and 4 tonnes per week for the recasting activity.
Metalor’s main customers include banks, bullion dealers, scraps collectors and mines in the whole South-east Asian region.
“Metalor has already received pre-orders from long-term customers, and will provide them with recasting services very soon. This is a really positive development, and confirms that Metalor’s presence in the Asia-Pacific region meets an existing and growing need for such services,” adds Hubert Angleys, CEO of the Metalor Group.
“The SBMA is very happy to see Metalor Singapore starting its refining activity less than 7 months after the launch of the project. We welcome this new step as one of the key enablers to creating a physical trading hub for precious metals in Singapore”, says Cheng Thye Ng, Chairman of the SBMA.
As a responsible multinational Group, Metalor participates in, cooperates with, and enhances worldwide efforts to ensure the precious metals it refines and transforms come only from legitimate, ethical sources, and that they have not been associated with crime, armed conflict or human rights abuse. Metalor has implemented very strict due diligence processes to guarantee irreproachable conduct at all steps in its supply chain.
Metalor is a worldwide leader in the field of precious metals and advanced materials.
The Group’s core competencies are chemistry, metallurgy and the management of precious metals.
Metalor’s primary objective is to create exceptional value for its customers, stakeholders and shareholders, within a culture of performance, innovation, trust, respect and ethics.
Through its three business units (Refining, Advanced Coatings and Electrotechnics) Metalor serves customers on all continents in a variety of industry sectors, from Swiss watch manufacturers to Brazilian electrical equipment suppliers.
With subsidiaries all over the world, and more than 1700 employees, the Metalor Group is present in Europe, the United-States, South-America and Asia.
In 2012, Metalor’s net sales amounted to CHF 379.6 million. For more information about Metalor, you can visit our website at: www.metalor.com.
You can also contact the Metalor Communications Department at firstname.lastname@example.org
The Singapore Economic Development Board (EDB) is the lead government agency for planning and executing strategies to enhance Singapore’s position as a global business center.
EDB dreams, designs and delivers solutions that create value for investors and companies in Singapore.
Our mission is to create for Singapore, sustainable economic growth with vibrant business and good job opportunities. EDB’s ‘Host to Home’ strategy articulates how we are positioning Singapore for the future.
It is about extending Singapore's value proposition to businesses not just to help them improve their bottom line, but also to help them grow their top line through establishing and deepening strategic activities in Singapore to drive their business, innovation and talent objectives in Asia and globally. For more information, please visit www.sedb.com
About International Enterprise Singapore
International Enterprise (IE) Singapore is the government agency driving Singapore’s external economy. For the past 30 years, it has been spearheading the overseas growth of Singapore-based companies and promoting international trade. Its vision is a thriving business hub in Singapore with Globally Competitive Companies and leading international traders.
IE Singapore attracts global commodities traders to establish their global or Asian home base in Singapore. Today, Singapore is a thriving trading hub with a complete ecosystem for the energy, agri-commodities and metals & minerals trading clusters.
Through its Global Company Partnership and Market Readiness Assistance, IE Singapore also works with Singapore-based companies in their various stages of growth towards being globally competitive.
IE Singapore’s global network of overseas centers in over 35 locations provides the necessary connections in many developed and emerging markets. Visit www.iesingapore.com for more information.
About SBMA (Singapore Bullion Market Association)
The Singapore Bullion Market Association counts 28 corporate members, including bullion banks, precious metals refiners, security services companies, minting institutions and the assay office. Its key objective is the promotion of commerce relating to the Singapore bullion market.Please use the request form for more information