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CRONIMET Holding Group and partner banks extend cooperation ahead of schedule

Karlsruhe, September 30, 2022

  • Bank consortium increases loan volume to 700 million Euros 

  • Financing of business operations secured until at least 2025 in difficult market environment

 

A banking consortium consisting of 13 German and European banks and CRONIMET Holding GmbH have extended the existing syndicated loan agreement until 2025 and increased the loan volume by more than 100 million Euros to approximately 700 million Euros. This secures the financing of the family-owned company based in Karlsruhe until September 2025. The partners also concluded extension options for a further two years.


“The early extension and the increase in the credit volume are a strong sign from the banking market and give us financing security for the upcoming years, which are likely to be rather difficult in view of the current geopolitical and economic environment,” explains Bernhard Kunsmann, CFO CRONIMET Holding GmbH. For the first time, the financing package also includes a credit line that allows CRONIMET to respond more flexibly to the market environment and, in particular, to volatilities in the raw materials markets.

The banking syndicate, with Commerzbank, Deutsche Bank and HSBC as the lead banks (mandated lead arranger and bookrunner), was also expanded and diversified to include several regional and also international banks. “The banks are not only rewarding our good corporate development in recent years, but also our sustainable business model,” says Bernhard Kunsmann. As the world’s leading company in stainless steel recycling, CRONIMET stands for resource conservation and raw material security in equal measure. In 2022, the CRONIMET Holding Group submitted its first sustainability report in accordance with the internationally recognized framework of the Global Reporting Initiative (GRI) and is consistently working on the implementation of its sustainability strategy, in particular the goal of working CO2 neutral in by 2030.

In the first two quarters of 2022, the CRONIMET Holding Group generated very good earnings. Since the beginning of the third quarter, the outlook has clouded over, and forecasts are difficult to make. Jürgen Pilarsky, CEO and majority shareholder of CRONIMET Holding GmbH, is nevertheless optimistic. “Currently, it is difficult to predict how market demand will develop in view of rising energy prices and the associated decline in stainless steel production. Thanks to the very good earnings performance to date, I am nevertheless very confident that we will achieve our target result for 2022 in the Group.”

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CRONIMET commissions first battery-powered excavator SENNEBOGEN 825 Electro Battery in operation

Karlsruhe, September 13, 2022

  • Significant contribution to reducing CO2 emissions in the recycling process

  • Innovation project sponsored by the German Federal Ministry of Economics and Climate Protection

The Karlsruhe-based stainless-steel recycling specialist CRONIMET Ferroleg. GmbH has put the first SENNEBOGEN 825 Electro Battery battery-powered excavator into operation. It was developed as an innovation project of the company SENNEBOGEN Maschinenfabrik GmbH with the cooperation of CRONIMET.

The aim of the innovation project was to significantly reduce CO2 emissions in the recycling process. The new battery-powered excavator combines the flexibility of traditional diesel-powered excavators with the benefits of a zero-emission electric excavator that also has lower maintenance and energy costs. The battery-powered 30 t electric excavator 825 Electro Battery enables completely emission-free work and thus makes a significant contribution to reducing CO2 emissions at CRONIMET. “With this innovation project, we are taking a decisive step on the road to CO2 neutrality,” says Marijo Zeljko, Managing Director of CRONIMET Ferroleg. GmbH. “Electrification of our machinery is a key component of our climate strategy.”

The companies of the CRONIMET Group have committed to operate in a CO2-neutral manner by 2030. “As CRONIMET Ferroleg. we are ready to invest in innovation and move forward in the industry. That’s why we are very pleased that the project has been funded by the German Federal Ministry of Economics and Climate Protection,” says Marijo Zeljko.

Currently nine excavators are in operation at CRONIMET Ferroleg. GmbH in Karlsruhe, returning around 140,000 tons of stainless-steel scrap and other alloyed scrap to the raw material cycle every year. Initially, CRONIMET will use the battery-powered excavator for feeding the scrap press, preparing material for the press, and for sorting work in the incoming goods department. The battery-powered excavator runs on 100 percent certified green electricity and saves up to 125 metric tons of CO2 emissions per year in two-shift operation compared with the previous solution – and with the same freedom of movement.

CRONIMET supported the product development with important practical know-how and actively participated in the prototype status of the machine. The battery-powered electric excavator developed in the innovation project is thus optimally geared to the requirements of demanding metal recycling.

The SENNEBOGEN 825 Electro Battery is based on the SENNEBOGEN 825 E with 110 kilowatt electric motor. The operating weight of approx. 30 tons and the range of 14 meters are unchanged. Its power storage unit, a lithium-ion battery pack with 378 kilowatt hours of storage capacity installed at the rear of the machine in place of the counterweight, enables the excavator to operate flexibly for up to 8 hours without intermediate charging. When used stationary by cable, it can work and charge at the same time. Thanks to the onboard charger and the 63A CEE plug system used, the electric excavator can be connected to conventional power sockets, so there is no need for additional investment in charging columns.

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CRONIMET Group presents its first sustainability report

Karlsruhe, August 15, 2022

  • Sustainability report follows internationally recognized GRI framework

  • Emphasis on CO2 neutrality

Holding GmbH has published its first group-wide sustainability report. The Germany based company follows the internationally recognized standard of the Global Reporting Initiative (GRI), option: core. “With standard-compliant reporting, we want to report comprehensively and transparently on our sustainability commitment in all dimensions,” explains Bernhard Kunsmann, CFO of CRONIMET Holding GmbH.

As a globally active company with around 70 locations on six continents, CRONIMET is committed to its responsibility for the environment and society. A project team has been preparing the Group-wide report and strategy for the past two years. This has laid the foundations for further developing the strategy in close collaboration with stakeholders and defining additional, concrete goals in the areas of environment, social affairs, and governance. A key goal: CRONIMET aims to reduce directly caused CO2 emissions across the Group by 2030 and become CO2 neutral in Scope 1 and 2, as well as achieve the Net Zero standard of the Science Based Targets initiative (SBTi) by 2050.

“This is a very ambitious goal that we are pursuing with vigor and strategy because we are convinced that, as a company in the circular economy, we can also make our contribution here,” explains CFO Bernhard Kunsmann. CRONIMET is currently preparing to join the SBTi. “We embody sustainability in our business model and in the way we see ourselves,” emphasizes majority shareholder and CEO Jürgen Pilarsky. “But it is not enough for us, as the world market leader in stainless steel recycling, to make a significant contribution to resource efficiency by returning valuable raw materials to the materials cycle. We want to go beyond this and make our corporate practices even more sustainable at every point: for the environment, our employees, our company and for society.”

The GRI Report and the accompanying sustainability magazine are published on the website of CRONIMET Holding GmbH.

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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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Martin Stepper strengthens CRONIMET’s Ferroalloys and Powder Metallurgy Business Unit

Karlsruhe, December 16, 2019

  • On 01.01.2020 Martin Stepper starts as Head of Business Unit Ferroalloys and Powder Metallurgy at CRONIMET Holding Group.

On 01.01.2020 Martin Stepper starts as Head of Business Unit Ferroalloys and Powder Metallurgy at CRONIMET Holding Group.

As part of its current portfolio, CRONIMET Holding is converting metal scrap and concentrates to ferroalloys, besides its historically grown trading business with those materials. “CRONIMET has a global network comprising of our own facilities, as well as through close relations with our business partners. We should take advantage of this, in order to grow our business in the area of the production and distribution of Ferroalloys and Metal Powders and to further develop ourselves sustainably. Martin has a strong metallurgical know-how and knows the production processes and requirements of melt shops very well. This is a great addition to our current team.”, highlighted by Jürgen Pilarsky, CEO of CRONIMET Holding Group.

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Appointment of Mr. Marijo Zeljko as CEO Europe of CRONIMET Holding GmbH

Karlsruhe, 08. November 2019

  • Mr. Marijo Zeljko is responsible for the overall management of all European locations

  • In addition, he will remain Managing Director of CRONIMET Ferroleg. GmbH

In September 2019, Marijo Zeljko was appointed CEO Europe of the CRONIMET Group. Mr. Zeljko is thus responsible for the overall management of all European locations as well as purchasing and sales in this region.

Mr. Zeljko has been working for CRONIMET since 1998. In 2004 he was appointed Plant Manager of CRONIMET Ferroleg GmbH, located at the headquarters in Karlsruhe. At the beginning of 2015 he also took over the management of this company.

In 2010, Mr. Zeljko was seconded to the Italian subsidiary Nichel Leghe SpA for three years as Plant Manager and Managing Director.

After his return from Italy, Mr. Zeljko was one of the founding members of the Board Europe at the end of 2013 and has since been responsible for the "Operations & Technology" divisions in Europe.

Based on his many years of experience, both the Pilarsky shareholder family and the management of CRONIMET Holding GmbH have now decided to appoint Mr. Zeljko as CEO Europe. The CRONIMET management congratulates Mr. Zeljko on this new and highly responsible position within the CRONIMET Group!

In addition to his new position, Mr. Zeljko will continue to hold the position of Managing Director of CRONIMET Ferroleg. GmbH. With more than 20 years of company and industry knowledge, he will also support the other European CRONIMET locations as CEO Europe in the near future.

"I view CRONIMET's future in Europe with great confidence, because I am sure that together we have all the necessary resources to shape it positively for the benefit of the company", Marijo Zeljko takes up his new challenge. "The best way to predict the future is to shape it ourselves".

 

About the CRONIMET Holding Group

The CRONIMET Holding Group, based in Karlsruhe, together with the companies of the affiliate company CRONIMET Mining AG, is part of the 100% family-owned CRONIMET Group. 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 nearly 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. The entire CRONIMET Group currently employs more than 5600 people globally.

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Who takes care of aircrafts at the end of their life cycle? WE DO

Karlsruhe, 08. November 2019

  • CRONIMET expands its Aviation Recycling division

  • The dismantling of two Airbus A340s has been successfully completed

  • More than 300 tonnes of mixed scrap could be returned to the raw material cycle

There is an oppressive heat at Schwerin-Parchim Airport when the 12-member team of CRONIMET Ferroleg. GmbH and MoreAero GmbH arrives. The prevailing temperatures of 35 degrees are reminiscent of droughts in the American desert, where hundreds of discarded aircraft are parked. However, two Airbus A340s await a different fate at the Schwerin-Parchim airport.

The two aircraft of the airline China Eastern Airlines will be dismantled by CRONIMET Ferroleg. GmbH in cooperation with the partner MoreAero GmbH and the system partner Kiesel GmbH.  CRONIMET acts thereby as an experienced expert in the recycling of raw materials. The partner MoreAero GmbH has the mobile recycling solution ready for the complex demolition.

A few years ago, the sustainable idea of returning important raw materials from aircraft to the raw material cycle was born. This resulted in the "Aviation Recycling" division of CRONIMET Ferroleg. GmbH, which was already certified by the Aircraft Fleet Recycling Association in 2015. While the focus had previously been on the certified deactivation and recycling of aircraft components, CRONIMET was now able to greatly expand its know-how in the recycling of entire aircraft with the dismantling of the Airbuses, thus expanding its business line.

‘CRONIMET returns important raw materials to the cycle through professional end-of-life management for aircraft and engines’, explains Gregor Zenkner, Head of Corporate Development at CRONIMET Ferroleg. GmbH.

More than 300 tons of mixed scrap were recovered from the two Airbus A340s. CRONIMET employees have already pre-sorted them on site. Then more than 30 articulated lorries transported the aircraft scrap to the port of Hamburg, where the scrap was separated into alloys. The metallic raw materials can then flow back into the raw material cycle.  Impurities were separated and used as residual materials to generate energy.

At CRONIMET, the sustainable concept is not only firmly anchored in the values. It is the basic framework and the motivation for the business model. With the recycling of aircraft, a further major step has been taken towards the recycling of scarce raw materials.

  

About the CRONIMET Holding Group

The CRONIMET Holding Group, based in Karlsruhe, together with the companies of the affiliate company CRONIMET Mining AG, is part of the 100% family-owned CRONIMET Group. 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 nearly 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. The entire CRONIMET Group currently employs more than 5600 people globally.

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Triple award for CRONIMET Envirotec GmbH

Karlsruhe, 03. Dezember 2018

  • CRONIMET Envirotec convinces in competitions with innovation and sustainability

  • Awarded with the special prize of the Reiner Lemoine Innovation Prize Anhalt-Bitterfeld 2018

  • Achieving first place in a Start-Up-Pitching Contest through outstanding business model and sustainability

  • Winner of the category "Resource Efficiency" of the Environmental Alliance Award Saxony-Anhalt 2018

After CRONIMET Envirotec had already been awarded the German Raw Material Efficiency Prize in 2017, numerous awards this year are testimony to the young company's engagements. As part of the globally operating CRONIMET Group, CRONIMET Envirotec has been operating a recycling plant for metal-containing sludges and powders at its site in Bitterfeld-Wolfen since 2015. The innovative and sustainable technology has already established itself on the market and convinced numerous customers from industries such as tool manufacturing, foundries and automotive suppliers. According to CRONIMET Envirotec CEO Dr. Filipe Costa, three further awards this month underline this and are "a great recognition of our performance and the added value it creates for the metalworking industries".

In the competition for the Reiner Lemoine Innovation Award Anhalt-Bitterfeld 2018, CRONIMET Envirotec was awarded the special prize of the Bitterfeld-Wolfen Chemical Park. The company's innovative technology is at the forefront of this recognition.

At a job fair for start-ups organized by Leipzig Global at the beginning of the month, seven companies competed against each other in a pitch contest. CRONIMET Envirotec emerged as the winner and convinced with the presented business model, unique selling proposition and sustainability of the company.

These successes were recently topped by the prize of the Environmental Alliance of Saxony-Anhalt 2018 on 26 November. Every two years, outstanding entrepreneurial achievements in the field of resource efficiency and sustainability are honored in this competition. An independent jury evaluated 40 applications on the basis of their economic effectiveness, resource efficiency, positive effect on the environment and climate, and innovative strength. CRONIMET Envirotec won the category "Resource Efficiency".

About the CRONIMET Holding Group
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 nearly four decades. The focus lies on trade & sales, recycling and production & services. The CRONIMET Holding Group was founded in 1980 and today has over 60 subsidiaries worldwide with more than 1500 employees. The CRONIMET Holding Group, based in Karlsruhe, together with the companies of the affiliate company CRONIMET Mining AG, is part of the 100% family-owned CRONIMET Group. The entire CRONIMET Group currently employs more than 5600 people globally.

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Consolidated Financial Statements 1st Half 2018 of the CRONIMET Holding Group

Karlsruhe, September 21, 2018

  • Very good start to 2018 financial year with growth in sales and tonnage

  • Increase in operating profit compared with the corresponding prior-year period

  • Forecast for the 2nd half of 2018: Business development of the Group as a whole remains in line with planning

  • Emerging challenges through enhanced trade policies

In the first half of 2018, the CRONIMET Holding Group, headquartered in Karlsruhe, was able to continue the positive development of 2017 and increase sales by approx. 8% to Euro 1.3 billion compared to the previous year. The tonnage delivered to customers increased again by approx. 2% compared to the tonnage that had already risen significantly in 2017. This led to some significant improvements in the key financial figures compared with the corresponding figures for the previous year. In particular, the operating result increased by almost 4% to Euro 30.5 million.

For the 2018 financial year as a whole, management is confident that earnings will exceed both the budgeted figures and the previous year's result. Possible challenges in the dynamic earnings development could be the current discussions about additional introduction and further increase of existing customs duties. Irrespective of this, the CRONIMET Group believes that it is excellently positioned in the economic zones of Europe and the USA, so that with the support of the existing subsidiaries in Asia the impact should remain manageable from today's perspective. CEO and shareholder Jürgen Pilarsky continues to be very satisfied with the company's current development: "We are very proud that we were able to continue the positive earnings momentum from 2017 in 2018 without restraint. This has improved and will further improve our capital strength, enabling us to increase our business volume for the benefit of our customers and suppliers even further.”

About the CRONIMET Holding Group
he CRONIMET Holding Group, based in Karlsruhe, together with the companies of the affiliate company CRONIMET Mining AG, is part of the 100% family-owned CRONIMET Group. 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 nearly four decades. The focus lies on trade & sales, recycling and production & services. The CRONIMET Holding Group was founded in 1980 and today has over 60 subsidiaries worldwide with more than 1500 employees. The entire CRONIMET Group currently employs more than 5600 people globally.

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Consolidated financial statement 2017 of the CRONIMET Holding Group

Karlsruhe, 19. Juli 2018

  • Fiscal year 2017 closed with growth in sales and tonnage

  • Restructuring measures in 2015 and 2016 clearly contribute to a positive operating result in 2017

  • Forecast 2018: continued positive development of the entire group

  • New loan agreement with significantly improved conditions secures corporate fi-nancing for further 3 years

After two years of successful restructuring, the CRONIMET Holding Group noticeably improved its earnings situation in the financial year 2017 and achieved a pre-tax profit of approx. EUR 19 million. Beside a growth in sales and tonnage in nearly all divisions, this success is mainly a result of the restructuring measures of the two previous years, which firstly took effect on a total financial year in 2017. Sales increased significantly from EUR 1.65 billion in 2016 to EUR 2.1 bil-lion in 2017. At 1.425 million tonnes, Group-wide sales tonnage outperformed the previous year's level as well. The operating result improved by EUR 29.4 million to EUR 37.2 million and is thus above plan.

For the financial year 2018, the management is confident that it will outperform the plan values and also the previous year's result in terms of earnings. The financial figures for the first 6 months of 2018 confirm this development.

The positive development is rewarded by the financial markets as well. Thus, a new syndicated loan agreement with an international banking consortium was signed, covering a period of three years with approx. EUR 600 million. This loan, moreover, was significantly oversubscribed by the banks.

CEO and shareholder Juergen Pilarsky is very satisfied with the current company development: "Thanks to the great commitment of our employees and the support of our business partners, we were able to implement various measures in 2015 and 2016. The thereof resulting positive effects have already been apparent since the end of 2016 and continue to have a stabilizing effect on the company in 2017 to this day. We therefore consider ourselves as very well prepared for the future, especially with regard to the trade policy challenges. "

About the CRONIMET Holding Group
The CRONIMET Holding Group is a worldwide specialist for stainless steel scrap, ferroalloys and pri-mary metals. The company has been supplying raw materials for the stainless steel producing indus-try for nearly four decades. The focus lies on trade & sales, recycling and production & services. The CRONIMET Holding Group was founded in 1980 and today has over 60 subsidiaries worldwide with more than 1500 employees. The CRONIMET Holding Group, based in Karlsruhe, together with the companies of the affiliate company CRONIMET Mining AG, is part of the 100% family-owned CRONIMET Group. The entire CRONIMET Group currently employs more than 5600 people globally.

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CRONIMET recycles gas turbines

Karlsruhe, 31. Januar 2018

With the documented destruction of aircraft turbines in 2016, CRONIMET broke new ground in the recycling of finite resources. At the end of last year, the company further recycled its first gas turbine the second one in January.

With the documented destruction of aircraft turbines in 2016, CRONIMET broke new ground in the recycling of finite resources. At the end of last year, the company further recycled its first gas turbine the second onA resource - efficient recycling of valuable alloys is the core business of CRONIMET in Karlsruhe. Gas turbines contain finite metals and various precious alloys, which would be lost without any efficient recycling in January.

"Both the customers and the manufacturers attach great importance to the documented destruction and recycling of gas turbines. Our experience in the recycling of aircraft turbines according to air safety standards is an optimal prerequisite for meeting such high req uirements, " Gregor Zenkner ( Head of Aviation Recycling ) further elaborates . CRONIMET professionally dismantles the turbines, documents the de struction of the individual parts and eventually returns the secondary raw materials according to their alloys to the environmental cycle.

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Appointment of Ms Annette Gartner as another managing director of CRONIMET Holding GmbH

Karlsruhe, 01. Juli 2017

CRONIMET Holding GmbH shareholders have appointed Ms Annette Gartner as another managing director of CRONIMET Holding GmbH with effect from 1 July 2017. Ms Gartner has already worked for the company since 2006 and was most recently partly responsible for the successful SAP launch for the entire group. She is also a member of the regional board for European business.

Particularly in consideration of global digitalisation and lack of specialists, the CRONIMET management team has developed areas of action in the last 12 months that CRONIMET would like to give more attention to in the future and in which the appropriate investments will be made in order to maintain and expand the CRONIMET Group’s competitive position. In this respect, the decision has been made that both HR management and digitalisation will be represented in a separate managerial role in the future in the form of Ms Gartner.

“We have gained a highly competent and experienced manager for our management team with Ms Gartner and in doing so we will gain significant speed in the key areas of HR development and digitalisation”, Shareholders and CEO Jürgen Pilarsky, together with his management colleagues Bernhard Kunsmann and Oliver Kleinhempel, are pleased with the addition to the management team.

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Change of name into CRONIMET Envirotec with new appearance

Bitterfeld-Wolfen, 23. Januar 2017

Destimet Green Services GmbH changes its company name into CRONIMET Envirotec GmbH.

The technology leader of the vacuum thermal treatment of metal and oil based industrial sludges is now named CRONIMET Envirotec GmbH with immediate effect. Since 2015, CRONIMET Holding GmbH has been sole shareholder of the company, which is located in Bitterfeld-Wolfen (50 km from Leipzig). Reason for the change of name is the full identification with the brand name CRONIMET. The new website www.cronimet-envirotec.com as well as the new appearance in the corporate design of CRONIMET make the affiliation of 100% and the integration into the group additionally visible.

CRONIMET Envirotec GmbH stands for innovative and sustainable treatment of waste sludges of the metal and oil industry. The patented vacuum distillation enables an environmentally friendly and sustainable separation of substances without changing their chemistry and ensures a holistic use along the value chain.

“We are opening the network of a world market leader in the sector of secondary raw materials for our parters within the CRONIMET Group. We will keep developing individual solutions and assisting our customers as a reliable and innovative partner,” says Filipe Costa, managing director of CRONIMET Envirotec GmbH.

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Agreement for the development of a ferronickel production facility in Indonesia

Karlsruhe/Berlin, 05. April 2015

ANTAM, CRONIMET and FERROSTAAL signed a Project Development Agreement (PDA) on Monday, 18thof April 2016, in order to jointly develop a long - term ferronickel production facility in Pomalaa, Southe ast Sulawesi, Indonesia for the manufacturing of nickel pig iron (NPI) over the next few years.

Berlin, 18th of April 2016 - The Project Development Agreement (PDA) was signed at the German - Indonesian Business Forum in Berlin, which was officially opened by the Indonesian President, H.E. Joko Widodo, and the Chairman of the Asia - Pacific Committee of German Business, Mr. Hubert Lienhard. Mr. Günter Pilarsky, Shareholder and President of CRONIMET Holding GmbH, Dr. Klaus Lesker, CEO of Ferrostaal GmbH and Mr. Tedy Badrujaman, President Director of the Indonesian mine and smelter operator PT ANTAM, signed the PDA on behalf of their respective companies in order to jointly develop a long - term production facility in Pomalaa, Southeast Sulawesi, Indonesia, for the manufacturing of nickel pig iron (NPI).

A Letter of Intent (LOI) which was signed by the concerned parties in June 2014, declaring their intention regarding the joint development, will now be extended and strengthened by the Project Development Agreemen t (PDA).

The aforementioned production plant is expected to produce 130,000 tons of nickel pig iron with approximately 15% Nickel content and will consume 1.85 million wet metric tons (wmt) of nickel ore per year as feedstock. NPI is used for the product ion of stainless steel.

“Together with ANTAM and FERROSTAAL we have strong partners at our side to further intensify the NPI project. The project is part of the long - term strategy of CRONIMET in order to strengthen our positioning on the Asian markets and increase our vertical in tegration,” says Günter Pilarsky, Shareholder and President of CRONIMET Holding GmbH.

“Ferrostaal is convinced that the processing of nickel ore will be profitable in Indonesia due to the excellent conditions including its location. Furthermore, we have been working with our partners for a long time on a trusting and efficient basis – the agreement, which has now been signed demonstrates this very clearly. With this project we are pleased to successfully continue the decades of cooperation of our house w ith partners from Indonesia”, says Dr. Klaus Lesker, CEO of Ferrostaal GmbH.

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CRONIMET Holding GmbH
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76189 Karlsruhe

+ 49 (0) 721-95 225-0