Stainless steel recycler Cronimet is expanding its presence in the Czech Republic with the acquisition of the ferrous and non-ferrous metal recycler Metallplast Recykling. The takeover was part of a long-term succession plan, the German company explained in an announcement released Wednesday morning. The sales agreement had been signed at the beginning of August and the closing conditions were fulfilled on 6 September, said Cronimet. Metallplast Recykling would now become "an integral and important part of the Cronimet group". The value of the transaction was not disclosed.
Metallplast Recykling is headquartered in Chabařovice in northern Bohemia. With a total of seven branches, the company describes itself as one of the leading recyclers of metal waste in the Ústí nad Labem region. Metallplast Recykling is active in the areas of ferrous scrap, stainless steel scrap, foundry scrap and non-ferrous metals, according to Cronimet, which did not provide any further information as to the tonnages processed by the newly acquired subsidiary....
