Germany-based scrap firm also sells its interest in a Czech steel mill.
Scholz AG, based in Essingen, Germany, and also known as The Scholz Group, has reported “difficult market conditions” in the third quarter of 2012, with the amount of scrap it has sold down 6 percent compared to the first nine months of 2011.
In a news release issued at the end of November, Scholz says it has processed and shipped “around 7.8 million metric tons” of scrap in the first three quarters of 2012, down six percent from the previous year.
As well, “because of falling commodity prices [sales in the first nine months of 2012] have been €3.7 billion ($4.95 billion), 11 percent below the comparable figure from 2011.”
The scrap firm, with some 7,500 employees and 500 processing and trading sites, has also reported “profit before tax in the first nine months of the financial year at €30.1 million ($39.2 million),” compared to €56.3 million ( $73.4 million) in the first three quarters of 2011.
The Scholz AG news release also points to the sale in September of the Poldi Hütte steel mill in the Czech Republic as “part of the strategic focus on the core business areas of the group in the recycling of ferrous and nonferrous metals.”
The quarterly statement and comments also tout “a new financing package totaling about €650 million ($847 million)” that Scholz AG finalized in September.
The company also has announced the doubling of its Supervisory Board from three to six members, which will take effect in January 2013.
Scholz AG director Oliver Scholz says he welcomes the additions to the board. “We appreciate the different experiences and value the large contact networks of the new members of the board and [anticipate] positive momentum.”
Scholz AG is part of The Scholz Group, which operates scrap metal processing and trading facilities in Europe, North America, Asia and Australia. The company has more than 7,500 employees operating in more than 20 countries