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Parekh Platinum Ltd.

BSE: 500323 Sector: Consumer
BSE 05:30 | 01 Jan Parekh Platinum Ltd
NSE 05:30 | 01 Jan Parekh Platinum Ltd

Parekh Platinum Ltd. (PAREKHPLAT) - Company History

Parekh Platinum manufactures a wide range of precious metal chemicals, supported catalysts and heterogeneous catalysts for the pharmaceutical, petroleum, petrochemical and fertiliser industries. PPL also manufactures engineering products such as wires, bars, rods, anodes, sputter targets, thermocouple wires, brazing alloys, etc. Few more custom-made articles of silver, gold, platinum, palladium, rhodium, iridium, and their alloys find application in the electronics, engineering, chemical, fertiliser, cement, steel, glass and other industries. In 1989, the company entered into a technical agreement with Gemini Industries, US, for refining spent petrochemicals and petroleum catalysts which was incorporated in 1982. The company successfully commissioned a gold refining project in 1993. The activity consists of refining gold to 99.5% purity and manufacturing gold bars of different weightage. The company has also set up a separate export division which exports its products to the US, Europe and Singapore. The company recently entered into two new technical collaborations, one with Lea Ronal,UK, for manufacture of ultra high purity gold potassium cyanide; and the other with Comptoir Lyon Alemand Louyot (CLAL), France, for the manufacture of platinum/rhodium gauzes. CLAL is well known in France for jewellery, gold and silver and dentistry. During 1999-2000, the company has successfully completed expansion of jewellery manufacturing facility by commissioning the fully integrated and one of the largest plant of its kind at Bhat, Ahmedabad. It has qualified as`Approved Supplier' of precious metal chemicals by a leading multinational pharma giant of Europe to source their entire requirement of precious metal salts for their plant located worldwide. To focus on exports the company floated a wholly owned subsidiary namely Gulf Metals & Chemicals (FZE) in Sharjah, UAE which would act as a nucleus to create a global market for its products especially in gaining increasing acceptance in the International market. Further branch office has also been opened in Dubai to facilitate some of the exports to US market. The company is also planning to consolidate the manufacturing operations for jewellery at one location at the factory premises at Bhat near Ahmedabad.