From the Wires
ALBA Group Expands Activities in Turkish Scrap Metal Market
By: PR Newswire
Dec. 23, 2012 06:35 AM
BERLIN, December 23, 2012 /PRNewswire/ --
INTERSEROH Scrap and Metals Holding GmbH acquires scrapyards in the Balkans
On December 21, 2012, INTERSEROH Scrap and Metals Holding GmbH, subsidiary of environmental service provider and raw materials trader ALBA Group, acquired the company Reukema Balkan SRL. Thus, the ALBA Group expands its activities in the Balkans: Altogether the purchase covers twelve scrap yards in Croatia, Bosnia-Herzegovina, Serbia, Montenegro and Romania. The headquarters for the company, which will trade under the name "ALBA Balkan Recycling SRL", is in Bucharest. The managing director and co-shareholder of ALBA Balkan Recycling SRL is Zlatko Garac. The purchase is still subject to the approval of the relevant cartel authority.
"With this acquisition we are very pleased to strengthen our activities in South Eastern Europe, and therefore have a stronger presence in the Balkans - especially towards Turkey," explains Joachim Wagner from the Board of Directors for the Steel and Metals Recycling segment of ALBA Group.
The new ALBA Balkan Recycling SRL will be active from now on particularly in the purchase of ferrous scrap metal (iron scrap) from smaller to medium-sized suppliers. The such bundled amounts then primarily supply Turkish steel mills. In addition to the existing scrap iron business, future trade will also be established in the Balkans in so-called non-ferrous metals.
Joachim Wagner: "With Zlatko Garac, an absolute expert in the field of steel and metals recycling serves as a director of our company. With his vast experience and expertise, especially in the Balkan markets, he will decisively drive our business forward."
About ALBA Group:
ALBA Group has with its two brands - ALBA and Interseroh - about 200 subsidiaries and equity holdings within Germany, Europe, the U.S. and Asia. With an annual turnover of 3.2 billion Euros and about 9,000 employees* ALBA Group is one of the leading recycling and environmental services companies as well as raw material providers worldwide. The operating activities of Interseroh focus on organising the recovery of packaging and products and on the sale of scrap metal. ALBA's operating activities focus on waste management services in municipal and commercial sectors, the sale of secondary resources, the development and operation of recycling and production plants as well as the design and performance of facility services.
* headcount / minority shareholdings included
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