Oryx to announce Asia expansion

Netherlands / Germany – Oryx Stainless, the world’s third largest stainless steel scrap trader, increased its turnover by 140% to Euro 800 million in fiscal year 2010, boosted by rising raw material prices.

The owner-managed company, founded in 1990, handled around 450,000 tonnes of the material, 60% up on the previous year. This gives it a 5% global market share. Oryx employs around 90 people at its two European locations in Mülheim, Germany, and Dordrecht, the Netherlands.

Two thirds of Oryx’s turnover is currently derived from Europe. But Ewout Slooff, board member and shareholder, said: ‘The Asian region will continue to gain importance for the stainless steel industry and consequently for Oryx Stainless as well. We have decided to open a third location in Asia to participate even better in this regional growth.’

The new Asian hub will become operational in the next 15 months and will control purchasing and marketing in the entire Asia-Pacific region.

Oryx has set itself a target 5% to 6% annual growth in the medium term. It is looking to trade more than 500,000 tonnes of stainless steel scrap and breach the Euro 1 billion turnover threshold this year.