Germany – The Scholz Group has sold its non-core aluminium and stainless steel businesses as part of its restructuring and realignment programme.
Regarding its aluminium trading companies, Scholz has sold its 60% holding in MMG Aluminium to the company′s management team. Furthermore, half of its 100% stake in ScholzAlu Stockach has been acquired by the management.
According to Scholz, the proceeds from the transactions will make a large contribution to significantly reducing the German scrap recycling concern’s net debt to Euro 700 million by 2015. The restructuring process is already ′well advanced′, the firm claims.
For more information, visit: www.scholz-recycling.de/en
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