Mumbai based Cerebra Integrated Technologies Acquires Singapore based Cimelia; Proposes INR 55 crore plant in Bangalore
Friday February 08, 2013,
2 min Read
With this deal, Cerebra will become one of the first Global Indian MNCs in the area of Waste arising from Electronics & Electrical Equipment (WEEE). Globally, this industry is estimated to be around $ 20 billion currently. India generates 2.5 million tonnes of waste a year. Bangalore generates approx 75,000 tonnes of E-Waste annually and Mumbai generates over 82,000 tonnes of E-Waste annually. The Government of India has also made it compulsory to set up a collection and disposal mechanism for E-Waste. The implementation of this law by the government would be good for both the environment and the E-Waste recycling industry.
Through this deal, Cerebra proposes to acquire the technology, know-how and global expertise that Cimelia has garnered over about 9 years in the Electronic waste (E-Waste) management industry.
The proposed plant will be set up with an Investment of $10 million (approx Rs. 55crores) at Bangalore. Cerebra’s experience in hardware will enable it to get more value out of the E-Waste. Cerebra first re-furbishes E-Waste and sells the computers/mobiles in the second hand market. All other E-Waste will be processed at its proposed end-to-end integrated e-cycling plant spread over approx 1,00,000 square feet. Cerebra assures data security and certifies the E-Waste collected to be “clean” from a data standpoint before the metal separation process takes place. Cerebra earns from the Precious metals and other metals that are recovered.