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Cape Gate breaks with Loewenthal Group

South Africa – The merger between Universal Metal Shredding, Universal Recycling Company and A. Loewenthal Metals in South Africa has been ‘€˜unconditionally approved’€™ by the country’€™s Competition Commission, following the decision by investment management specialists, South Africa-based Cape Gate Holdings and US-based Loewenthal Group of Companies, to ‘€˜dissolve their partnership’€™ as from 1 November.

The Loewenthal family will retain Universal Recycling, which operates a non-ferrous facility in Industria, Johannesburg. Cape Gate will operate the Vanderbijlpark Central Yard on its own account and will also purchase Loewenthal’€™s shares in the UCG processing facility in Krugersdorp.

Universal Metal Shredding will cease operation on 1 November. Cape Gate said it had purchased the company’€™s complete shredder. Universal Recycling has already sold its interest in another company, Steelco, to the firm’€™s ferrous expert, Ann Croucamp.

For more information, visit: www.cape-gate.co.za

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