According to multiple news reports, Chaoyue Group Ltd, based in Hong Kong, has agreed to purchase two Chinese makers of stainless steel and copper products for around $1.3 billion. The deal follows Chaoyue selling its water purification business in 2012.
According to the China Daily, Chaoyue will pay HK$3 billion in cash to Chung Ming Metal Resources Holdings Ltd for the firms, with the balance in shares and convertible bonds.
"With its large production and extensive use of scrap metal in production, the target group is well positioned to capture growth in demand for stainless steel and copper products," it added.
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An elevated cab is one of several features improving operational efficiency at the Macon County Solid Waste Management agency in North Carolina. When it comes to waste management, efficiency, safety and reliability are priorities driving decisions from day one, according to staff members of the Macon County Solid Waste Management Department in western North Carolina. The agency operates a recycling plant in a facility originally designed to bale incoming materials. More recently, the building has undergone significant transformations centered around one machine: a SENNEBOGEN telehandler (telescopic handler).
According to a report in Bloomberg, the operations being acquired have the capacity to make 750,000 metric tons of stainless steel and 140,000 tons of copper products per year.
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