The Scholz Group, an Essingen, Germany-based metals recycling company that has been undertaking a restructuring process, has sold its ScholzAlu Stockach GmbH subsidiary to a group of investors advised by the German investing group Orlando Management AG.
ScholzAlu Stockach, based in Stockach on Lake Constance, Germany, produces cast and wrought alloy materials from secondary aluminum. Additionally, the division is involved in treating salt slag generated during secondary aluminum production.
The sale of ScholzAlu Stockach is part of the Scholz Group’s decision to focus its operations on metals recycling while it works through a debt restructuring and recapitalization process.
In May, the company noted that it is nearing the completion of its restructuring, which has included the U.S. investing firm KKR Credit providing some liquidity to allow Scholz to fund working capital and help with new business growth.
Additionally, the company recently announced that the Hong Kong-based metals recycling company Chiho-Tiande Group has submitted an offer to purchase Scholz’s secured debt as well as expressing an interest in acquiring the majority of shares in Scholz Holding.
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