Wetzel cooperation with Ecore called off

Netherlands / Germany – German scrap processor Schrott Wetzel and Netherlands-listed Ecore group has abandoned a plan to take merge their company activities’.Ecore, one of Europe’s largest scrap metal traders, had announced its intention to take a majority stake in Wetzel. But Hans Merkel, a spokesman for the Mannheim-headquartered acquisition target, said the companies had decided their strategies were too far apart to enable the predicted synergies to be achieved. Instead, they will proceed independently with their respective expansion plans.