Thailand – Oryx Stainless PGI Co. Ltd of Bangkok, part of the Oryx Stainless Group, has entered into an acquisition agreement with Thailand-based Thai Metal Recycling Ltd (TMR) which entails Oryx Stainless PGI continuing the business relationships successfully built by TMR.
The acquisition is part of the implementation of Oryx Stainless’ international growth strategy and will increase its market share in one of the fastest growing markets for the recycling of stainless steel and its alloys.
‘With the acquisition of Thai Metal Recycling in the fourth quarter of 2016, we took a significant growth step for our Asian business area,’ comments Oryx Stainless Holding’s ceo Tobias KÃ¤mmer.
‘In the dynamic market environment of South East Asia, we are further strengthening our position to the benefit of our customers, which will profit from the high-quality standard of our products.’
The agreed transaction will provide ‘a valuable foundation for the continued growth of Oryx Stainless’, he adds. Oryx Stainless PGI is a leading stainless steel recycling company in South East Asia.
It is a joint venture between Oryx Stainless Group – headquartered in the Netherlands and one of the world’s leading stainless steel recycling groups – and the PGI Group based in Dubai.