Cerebra Acquires Cimelia Resource Recovery.
Cerebra Integrated Technologies Ltd., Bangalore, India, has signed an agreement with Enviro-Hub Holdings, based in Singapore, to acquire Enviro-Hub’s wholly owned subsidiary Cimelia Resource Recovery Pte Ltd for $20 million. According to Cerebra, the deal is expected to strengthen its electronics recycling efforts in Asia.
Cimelia operates a recycling and precious group metals (PGM) refining facility in Singapore and has the capacity to recycle 30,000 metric tons of electronic scrap and other materials each year. Cimelia also operates a white goods recycling facility in Singapore.
Along with the acquisition of Cimelia, Cerebra says it expects to build one of the largest electronics recycling facilities in India. The facility, to be located in Bangalore, will cover 10 acres and will cost around $10 million to build.
According to Enviro-Hub, Cerebra and Cimelia had entered into a master services agreement in early 2010, pursuant to which Cerebra engaged Cimelia to help set up an electronic scrap processing business in India and provide technology and other support for the business.
“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,” says V. Rananathan, managing director of Cerebra.
Cerebra, founded in 1992, provides software, IT training and consulting, legal process outsourcing, business process outsourcing and knowledge process outsourcing services. The company started its electronics recycling operations in India from a temporary facility in an industrial region of Bangalore.