Luxembourg, 21 May 2019 – Metalcorp Group S.A., a globally operating service provider for the procurement, logistics and trading of steel and non-ferrous metals as well as a leading independent producer of secondary aluminium slabs in Europe, is founding a joint venture in Great Britain with its long-standing business partner Portnex International under the name of TCC Coke Ltd. for the production of raw materials for the ferroalloy market. Metalcorp and Portnex already trade these products and market them to customers in Europe and Asia. This strategic backward integration through its own production facility is intended to create additional sales potential and at the same time secure the product supply of customers as well as both partners in the long term. Metalcorp expects the joint venture to lead to a significant increase in sales and earnings from 2020 onwards. The joint venture is subject to governmental and regulatory approval, which is expected in the third quarter of 2019. Metalcorp will hold 51% and Portnex 49% of the shares.
With regard to the future financing of the joint venture, BankM – representative office of flatex Bank AG was commissioned to examine various debt financing options.
For further information:
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
+49 89 8896906-25
metalcorp@better-orange.de
Mark Nunes
Metalcorp Group S.A.
+352 2799 0145 55
mnunes@metalcorpgroup.com