With this deal, Cerebra will become one of the first global Indian MNCs in the area of waste arising from electronics and electrical equipment (WEEE). Globally, this industry is estimated to be around $20 billion currently. E-waste is one of the fastest growing industries worldwide. In India the market is estimated to be $2 billion and is growing at approx 25% y-o-y.
Announcing the transaction, V Ranganathan, Managing Director, CITL, said, “We will be amongst the first global Indian MNC in this sector with one of the finest e-waste facilities in the world at Singapore. This acquisition will also help us to build one of the largest facilities in Bangalore, India spread across 1,00,000 sq feet on 10 acres of land. Through the new plant and alliance, Cerebra will be better equipped to refurbish, reuse and recycle e-waste. It will get an entry in international market, through Cimelia’s global network and clientele.”
Fons Krist, Executive Director of Cimelia, added, “Working with Cerebra is an exciting development for us and this attests to the strong corporate brand name that Cimelia currently enjoys in the global E-Waste management and PGM (Platinum Group Metal) Refining. “
Through this deal, Cerebra proposes to acquire the technology, know-how and global expertise that Cimelia has garnered over about nine years in the electronic waste management industry. Cimelia also brings with it strong client relationships with global giants.
The proposed plant will be set up with an investment of $10 million (approx Rs 55 crore) at Bangalore. Cerebra’s experience in hardware will enable it to get more value out of the e-waste. CITL first re-furbishes e-waste and sells the computers/mobiles in the second hand market. All other e-waste will be processed at its proposed end-to-end integrated e-cycling plant spread over approx 1,00,000 square feet. CITL assures data security and certifies the e-waste collected to be “clean” from a data standpoint before the metal separation process takes place. CITL earns from the Precious metals and other metals that are recovered.
India generates 2.5 million tonnes of waste a year of which Mumbai contributes 82,000 tonnes followed by 75,000 tonnes from
Bangalore. The government has also made it compulsory to set up a collection and disposal mechanism for e-waste. The implementation of this law by the government would be good for both the environment and the e-waste recycling industry