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Furuya Metal establishes new company, enters into agreement with APML

Date: July 27, 2020 Sunil Jha Sunil Jha
Furuya Metal establishes new company, enters into agreement with APML 
Tokyo-based Furuya Metal Co. Ltd., has reportedly announced the establishment of its new company, Furuya Eco-Front Technology, aiming to handle environmental businesses, focused on the capitalization of low-temperature active catalysts. Furuya has also entered into an agreement intending to form a joint venture with major South African PGM producer, Anglo Platinum Marketing Limited. APML reportedly accounts for 70 per cent of the global platinum production and has decided to provide 40 per cent of the capital for the new joint venture.



For the uninitiated, Furuya Metal Group has been known for the development of various products pertaining to a wide range of areas, comprising optical glass, electronics, clean energy, environment, precious metal resource reutilization, and medicine. The company has been selected twice by the Ministry of Economy, Trade and Industry, Japan, as one of the Global Niche Top Companies Selection 100.



Furuya Metal’s new company has been established with an objective to reduce food wastes generated due to spoilage and focuses on the improvement of people’s health by taking advantage of the antimicrobial effect, via inhibition of molds, and odor prevention.



In 2017, Furuya Metal had developed a mass-production system for the manufacture of FT-eco catalysts for the effective resolution of volatile compounds, that are harmful to humans, causing allergies and offensive odors, and also produce ethylene, that is instrumental for the active promotion of FT-eco catalysts.



These catalysts are energy-saving and environment-friendly, operational at low temperatures, and have great potential for reducing energy consumption. The catalysts also help in the reduction of CO2 emissions and effectively contribute towards decreasing food waste.



Through the current move, Furuya Metal intends to consolidate its business resource concerning FT-eco catalyst and aims to further the expansion of its distribution channels that also include overseas markets. The company envisions to focus on the promotion of technology development via its newly formed subsidiary.



 



Source Credits:



https://www.benzinga.com/pressreleases/20/07/a16782318/furuya-metal-has-become-the-first-japanese-precious-metal-company-to-establish-a-joint-venture-wit

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Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.