Hindustan Platinum acquires ABB plant in Puerto Rico

Hindustan Platinum, a refiner and manufacturer of precious metal products and services, has announced the purchase of ABB’s Humacao electrical contacts manufacturing plant in Puerto Rico. The deal is expected to close in August.

The Humacao plant will be Hindustan Platinum’s second electrical contacts manufacturing facility (besides the one in Navi Mumbai) catering to the North American and Latin American markets, said a press release.

Ashish S Choksi, Executive Vice-President, Hindustan Platinum, said: “This ambitious strategic step forward by Hindustan Platinum to a higher scale is expected to have a great deal of synergy from the enhanced competitive positioning in terms of geographical footprint, customer base and range of solutions for the electrical contact industry that will be available from both the facilities.”

Hindustan Platinum has customers spread over five continents and 50 countries. It provides a full bouquet of precious metal management and recycling (secondary refining and conversion) services to its customers across a broad spectrum of industries, said the release.