Karlsruhe, Germany-based Cronimet Holding GmbH says it has acquire 100 percent of the shares of MetallPlast Recykling of the Czech Republic, and that nonferrous metals recycling firm will now become part of the Cronimet Group.

Calling the transaction part of “a long-term succession plan” for MetallPlast, Cronimet says for its part the move “strengthens its market position” in Central Europe.

Cronimet says of MetallPlast of the early September acquisition, “The North Bohemian family business, which has been operating successfully in the Czech market for 32 years, will thus become an integral and important part of the Cronimet Group.”

The Germany company, which has much of its focus on stainless alloys, says MetallPlast Recykling was founded in 1992 by Milan Ryšavý, and that the firm “has made a name for itself with its expertise in the areas of ferrous scrap, stainless steel and foundry scrap and nonferrous metal.”

Cronimet says the locations of MetallPlast Recykling’s seven sites, plus the firm’s vehicle fleet, will offer “a valuable addition to the Cronimet Group’s network of sites and product portfolio.”

“This acquisition is a strategic step that strengthens our market position in Central Europe,” says Jürgen Pilarsky, CEO of Cronimet Holding. “In particular, the geographical location of the sites and the complementary focal points in the operating business offer great synergy potential. We want to use this and the strengths of both companies to broaden our service and product portfolio for our business partners.”

Cronimet says it will retain the Czech firm’s 48 employees. Lucie Milatová, who has been the managing director of Cronimet Ostrava in the Czech Republic “for many years,” will be responsible for managing MetallPlast Recykling together with previous owner Milan Ryšavý.

Comments Ryšavý: “With Cronimet, we got to know a strong family business that is guided by the same values as MetallPlast Recykling. We are pleased that we can now become part of the Cronimet Group and look forward to a successful long-term development.”

Adds Pilarsky, “The company philosophies harmonize perfectly.”

The Cronimet Holding Group was founded in 1980 and now has more than 1,600 employees operating from about 75 locations worldwide.

Courtesy : recyclingtoday.com