Two of Europe’s largest recycling companies, Interseroh SE and Scholz AG, have agreed to dissolve their joint venture HRR Steel Scrap and Metal Recycling GmbH & Co. The two parties came to the decision to discontinue the arrangement at the end of last year.
The company, with several locations in Germany, will now operate under the control of Interseroh Berlin GmbH. The managing director for the company will be Dieter Thomas Hagen.
Under the resolution agreement the two companies also agreed on the following points:
· The previously jointly held company's shares on HRR specialist demolition companies TVF GmbH Altwert Interseroh will go to go to Interseroh.
· The shares in Ziems Recycling GmbH, Malchow will be distributed in each 25 percent between Interseroh and Scholz.
· In addition, an agreement has been reached between the two companies on the previously jointly owned outlets in Lübbenau, Pretzien in Germany, as well as the former site in Duben to Scholz.
· Scholz AG takes the shares of the Central German commodity MRR-Recycling GmbH in Halle an der Saale, which has 10 locations.
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