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