Oryx completes deal for Thai Metal Recycling

Oryx Stainless PGI, a Bangkok-based part of the Dutch company Oryx Stainless Group, has completed the acquisition of Thai Metal Recycling Ltd., based in Thailand.

In a prepared statement Oryx says the acquisition is part of the company’s international growth strategy and will increase its market share in Thailand.

“With the acquisition of Thai Metal Recycling (completed late last year) in the fourth quarter of 2016, we took a significant growth step for our Asian business area. In the dynamic market environment of South East Asia, we are further strengthening our position to the benefit of our customers, which will profit from the high-quality standard of our products. The agreed transaction will provide a valuable foundation for the continued growth of Oryx Stainless,” says Tobias Kämmer, CEO of Oryx Stainless Holding.

Oryx Stainless PGI is a stainless steel recycling company in South East Asia. It is a joint venture between Oryx Stainless Group and the PGI Group, a metals recycling company based in Dubai.

The Oryx Stainless Group, founded in 1990, is involved in trading raw materials used to produce high-quality stainless steels. The Group focuses on the handling and processing of stainless steel scrap into Oryx Stainless Blends. These secondary raw material blends – individually adapted for the respective stainless steel producers – replace above all primary raw materials such as ferronickel, ferrochromium and ferromolybdenum.