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Current press releases

Current press releases

We post all current press releases here so that you are always up to date.

CRONIMET Group successfully concludes anniversary year 2021 – Changes in the management board

Karlsruhe, February 16, 2022

  • World market leader in stainless steel recycling consolidates its position

  • Oliver Kleinhempel retires from the management board and will will focus even more on the operating business in the future

The CRONIMET Group, world market leader in the recycling of stainless steel scrap with headquarters in Karlsruhe, has concluded its 40th anniversary year very successfully. Despite the increasingly difficult global trade relations, some restructuring within the industry and, of course, the still ongoing pandemic: the world market leader has come through the turbulent times very well and was able to further consolidate its position as number one in the industry. This is also reflected in the economic success. For the first time in more than ten years, the operating result before interest and depreciation has risen to over 100 million euros.

The CRONIMET Group has not only grown in its core business. Rather, the Karlsruhe-based family business has once again done what it has excelled at over the past 40 years: Recognizing and seizing opportunities. For some years now, CRONIMET has been working new business areas which – docked to the core business of metal recycling – are intended to further broaden the company's business base. In addition to the processing of metal sludges by the subsidiary CRONIMET Envirotec in Bitterfeld near Leipzig or the processing of a tungsten stockpile with approximately 12 million tons of tungsten ore tailings from a closed mine in Australia, another field of activity has been added in 2021 with the recycling of materials (cobalt and nickel) for the production of batteries for electric vehicles.

"What has always distinguished us have been our employees, their expertise and their flexibility. That and our partnership-based relationships within our industry, which have grown after more than 40 years, have also enabled us in this case and continue to enable us to recognize such opportunities as they arise and then to take advantage of them to secure the future of our company," says Jürgen Pilarsky, CEO of CRONIMET Holding GmbH.

Despite all economic success, the shareholders and management of the CRONIMET Group are also aware of their social responsibility. Thus, in 2021, the "Corporate Social Responsibility" area was expanded in terms of personnel as well as investments were made at many subsidiaries, for example, in solar energy and e-mobility, not only in the vehicle fleet, but also on the sites themselves. "We are convinced that the topic of sustainability has become second nature to all our employees, so we are very confident that we will also achieve our goal of being climate-neutral in 2030," says CFO Bernhard Kunsmann, who is responsible for CSR on the Executive Board.

CRONIMET also wants to be among the pioneers when it comes to women in management positions. "Even though there are currently no legal regulations for companies of our size, we have signed a voluntary commitment according to which there should always be at least one woman on our holding company's management board," says Annette Gartner, the managing director responsible for human resources, among other things. Majority shareholder and CEO Jürgen Pilarsky would even like to see equal representation on the management board in the future.

Oliver Kleinhempel focuses even more on operational business

In addition to the operative business, CRONIMET has also set the course for the future in terms of personnel. After Jürgen Pilarsky, son of the company founder Günter Pilarsky and CEO of CRONIMET Holding GmbH, took over the majority share in the family-owned company in 2021, another restructuring at the highest management level will follow early in 2022.

Oliver Kleinhempel has left the management of CRONIMET Holding GmbH for personal reasons on February 1, 2022. Kleinhempel will remain with the company and in the future will devote himself even more strongly and operationally to his previous areas of responsibility of Raw Materials, Processing and Business Development as well as our businesses in Asia and Australia. This move will enable him to focus even more intensively on the opportunities available to CRONIMET in the raw materials markets in the future.

"We respect Oliver Kleinhempel's decision and are also very pleased that he will remain with the CRONIMET Group. I know that he will continue to bring the same high level of commitment to his areas of responsibility and I look forward to a continued very successful collaboration," says Jürgen Pilarsky, to whom Kleinhempel will report directly in the future. As Oliver Kleinhempel will continue to perform his operational duties in the future, there are no plans to fill his position within the management of CRONIMET Holding.

Outlook 2022

For the 1st quarter in the new fiscal year, CRONIMET expects a continuation of the good development of 2021. Also for the 2nd quarter of 2022 a high utilization of the customers' capacities is emerging, so that the management assumes that the planning for the entire year will be achieved.

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Expert opinion confirms: No abnormalities in water quality in the Voghji River in Armenia

Karlsruhe, August 6, 2021

The CRONIMET group of companies has been facing allegations of environmental pollution in Armenia and Azerbaijan for several weeks. More specifically, the Voghji River, which flows from Armenian territory into Azerbaijan, is said to be heavily polluted. The allegations relate to the Armenian ZCMC mine, in which CRONIMET held shares until 2019.

CRONIMET comprehensively and transparently supports clarification of the reasons behind these allegations. Therefore, CRONIMET has informed the Armenian ZCMC copper-molybdenum mine, which has been named as the culprit, about the allegations and asked for a statement. ZCMC subsequently provided a water analysis, which CRONIMET had reviewed by a recognized, independent soil and water analysis expert based in Germany.

Allegations that the water ZCMC used in mining and subsequently returned to a nearby river after treatment was highly contaminated were clearly refuted by the expert report. According to the independent expert's analysis of ZCMC's documents, the report does not give any indication that the river has been polluted by ZCMC.

On the contrary, it shows that the measured values for water quality do not exhibit any significant anomalies. Only the pH value is slightly elevated, as well as the manganese value.

In detail: In the Drinking Water Ordinance of the Federal Republic of Germany, a guideline range of 6.5 to 9.5 is specified for the pH value. According to the expert opinion, the average pH value for the water discharged into the Armenian River is 10.375. With this slightly increased value, it can be assumed that after a short flow distance there is no longer any negative influence on the pH value of the river.

In the Drinking Water Ordinance of the Federal Republic of Germany a limit value of 0.05 mg/l is specified for manganese. Here, the value for the discharged water is 0.068 mg/l. For manganese, too, it can be assumed that even after a short flow distance there is no longer any negative influence on the water quality of the river, especially since the manganese concentration recommended by the World Health Organization (WHO) is 0.4 mg/l and thus far above the values mentioned.

Those responsible for the CRONIMET group of companies are surprised by the accusations against the company. Not only because CRONIMET has not held any shares in ZCMC since 2019. But also because numerous steps were taken to improve water quality and over 60 million dollars were invested in environmental protection measures during the period in which the group of companies was the majority shareholder of the mine (until 2019).

About the CRONIMET Holding Group
The CRONIMET Holding Group, headquartered in Karlsruhe, Germany, is a global specialist for stainless steel scrap, ferroalloys and primary metals. For four decades, the company has been supplying raw materials to the stainless steel producing industry. The focus is on trading & sales, recycling and production & services. The CRONIMET Holding Group was founded in 1980 and today has a global presence with more than 1500 employees at over 70 locations.

Contact person:
CRONIMET Holding GmbH
Stavros Georgiou
Press spokesperson
Südbeckenstraße 22
76189 Karlsruhe, Germany
public-relations@cronimet.de
cronimet.com

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Partner banks extend the cooperation with the CRONIMET Holding Group by one year ahead of Schedule

Karlsruhe, July 9, 2020

  • Bank consortium honors the positive development of the CRONIMET Holding Group

  • Business activities financed by the loan of 575 million Euros until August 2023

Partner banks extend the cooperation with the CRONIMET Holding Group by one year ahead of Schedule

A bank consortium consisting of twelve German and European banks and the CRONIMET Holding Group have extended the existing syndicated loan agreement for a further year at unchanged conditions. The loan of 575 million euros secures the business activities of the CRONIMET Holding Group until well into the year 2023.
The early extension, especially in these difficult and uncertain times, is a clear sign from the banking market, which is thus rewarding the positive corporate development. "The streamlined approval process in this challenging economic environment, which was negatively influenced by Corona, shows that the financing markets have great confidence in our business model. It was particularly positive in the perception of the banks that even in the Corona period our development is so stable that we do not need any additional liquidity - neither from our house banks nor from the KfW", says Bernhard Kunsmann, CFO of the CRONIMET Holding Group about the early extension of the cooperation.
The 2020 fiscal year started very satisfactorily for the CRONIMET Holding Group in the first quarter. Since April, however, the effects of the corona pandemic have also been felt at the internationally operating company from Karlsruhe. It is difficult to make forecasts for the remaining fiscal year. Nevertheless, Jürgen Pilarsky, CEO of the CRONIMET Holding Group, is optimistic: "At the moment it is difficult to predict what effects the pandemic will still have on the economy, if and when, for example, a second wave is coming. However, I am optimistic that - even if we fall short of the previous year's figures - we will still report a positive operating result at the end of the fiscal year.


About the CRONIMET Holding Group
The CRONIMET Holding Group, based in Karlsruhe, is a 100% family-owned company. The CRONIMET
Holding Group is a worldwide specialist for stainless steel scrap, ferroalloys and primary metals. The
company has been supplying raw materials for the stainless steel producing industry for four decades.
The focus lies on trade & sales, recycling and production & services. The CRONIMET Holding Group
was founded in 1980 and today has over 70 subsidiaries worldwide with more than 1500 employees.

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CRONIMET Holding Group with clearly positive operating result

Karlsruhe, May 29, 2020

  • Group defies volatile markets 2019

  • Management sees CRONIMET well prepared for upcoming corona challenges

CRONIMET Holding Group with clearly positive operating result

The CRONIMET Holding Group, headquartered in Karlsruhe, Germany,achieved a very satisfactory operating result of approximately Euro 35 million on sales of Euro 2.2 billion in fiscal year 2019 despite the slowdown of the global economic dynamics and partly very volatile developments in raw material prices. With a tonnage of well over 1.4 million tons shipped to the stainless steel mills worldwide, it was also possible to almost match the record figure of the previous year.


The very positive development of the previous year was continued in the 1st quarter of 2020 and a
clearly positive operating result was achieved. However, since the end of March, the effects of the
Corona Pandemic have also been noticeable in the CRONIMET Holding Group, so that in April there
was a noticeable decline in earnings to a, however, still positive operating result. The management
also expects the company's development to be impaired in the following months.


Regardless of this, CEO and co-shareholder Jürgen Pilarsky is convinced that the company is well
prepared for overcoming this global crisis situation: "Thanks to the great commitment of our
employees, we have continuously developed our business model over the past years and made it
crisis-resistant. In doing so, we have placed a special focus on a long-term partnership with our
suppliers, customers and financing partners that is characterized by trust and that will help us to
master the challenges of the coming months". CRONIMET relies in particular on its own financial
strength and does not plan to raise additional financing.


About the CRONIMET Holding Group
The CRONIMET Holding Group, based in Karlsruhe, is a 100% family-owned company. The CRONIMET
Holding Group is a worldwide specialist for stainless steel scrap, ferroalloys and primary metals. The
company has been supplying raw materials for the stainless steel producing industry for four decades.
The focus lies on trade & sales, recycling and production & services. The CRONIMET Holding Group
was founded in 1980 and today has over 70 subsidiaries worldwide with more than 1500 employees.

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New management at CRONIMET Legierungen Dortmund GmbH

Karlsruhe, April 15, 2020

  • Volkmar Schink is no longer managing director of CRONIMET Legierungen Dortmund GmbH.

  • Julija Komarovic has taken over as managing director

Volkmar Schink is no longer managing director of CRONIMET Legierungen Dortmund GmbH. The management of CRONIMET Holding GmbH and Schink agreed on this by mutual consent. Schink was Managing Director of CRONIMET Legierungen Dortmund GmbH and Cronileg Rohstoffhandelsgesellschaft mbH since 2017. The management of CRONIMET Holding thanks Volkmar Schink for the cooperation and wishes him all the best for his private and professional future.

The succession of Volkmar Schink at CRONIMET Legierungen Dortmund GmbH was taken over by Julija Komarovic on March 26, 2020. She has been working in various positions in the CRONIMET Group since October 2015. Especially in her position as Managing Director of Minerals Supply Africa (MSA) LTD in Rwanda she was able to prove her abilities as a responsible and determined creator. With her experience and commitment, Julija Komarovic fulfills the prerequisites for successfully shaping the further development of CRONIMET Legierungen Dortmund GmbH.

About the CRONIMET Holding Group
The CRONIMET Holding Group, based in Karlsruhe, is a 100% family-owned company. The CRONIMET Holding Group is a worldwide specialist for stainless steel scrap, ferroalloys and primary metals. The company has been supplying raw materials for the stainless steel producing industry for four decades. The focus lies on trade & sales, recycling and production & services. The CRONIMET Holding Group was founded in 1980 and today has over 70 subsidiaries worldwide with more than 1500 employees.

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CRONIMET Holding GmbH
Südbeckenstr. 22
76189 Karlsruhe

+ 49 (0) 721-95 225-0