Skip to main content

Joint venture for China Metal Recycling

China – China Metal Recycling (CMR), said to be the largest scrap metal recycler in mainland China, has signed an agreement to establish a joint venture in Tianjin.

According to reports, its wholly-owned subsidiary CMR (Tianjin) Investment Co. will team up with state-owned Tianjin Dawufeng Steel Development Co. (TDSD) and 11 scrap metal recyclers to build a metals processing centre with an annual capacity of 5 million tonnes. CMR plans to invest RMB 200 million (US$ 30 million) in the joint venture, accounting for a third of the company’s registered capital of RMB 900 million. TDSD will hold a 37.5% stake in the venture while the combined share of the other 11 scrap metal recyclers will amount to 29.17%.


 


www.chinametalrecycle.com

Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.

You might find this interesting too

Rough weather ahead for German steel recyclers?
Lower demand forces Tata Steel to cut jobs

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe now and get a full year for just €136 (normal rate is €170) Subscribe