Singapore Company Seeks to Build Copper Refinery

Advance SCT Ltd., which has made a number of moves over the past several months to expand its business, recently announced plans to build a large copper refinery in Singapore.

The company, which is the largest independent tester of printed circuit boards, also has made a number of acquisitions that will be incorporated into the business to help develop and supply the copper refinery, which will have a production capacity of around 36,000 metric tons per year.

The facility is expected to save the company between $100-$200 per metric ton of copper processed through the group’s copper supply chain.

Advance SCT also is expanding its business model with recent acquisitions in the copper recycling and material supply management side. To accomplish this, the company’s Green World Holdings subsidiary, has entered into a conditional sale and purchase agreement with C.N.A. Venture Holdings Sdn. Bhd. and PNA Technologies Holding Sdn. Bhd. whereby GW will acquire the current entire issued and paid-up share capital of CNA Manufacturing Sdn. Bhd. and PNA Technologies Sdn. Bhd.

GW is an investment holding company incorporated in Singapore, and the principal activities of its subsidiary companies are related to the dealing of all kind of ferrous and non ferrous metals, electrical and electronics and insulated cable scraps.

Upon the completion of the acquisition and as a condition for the Acquisition, GW intends to divest of its current three operating subsidiaries (namely, Tsing Yi Enterprises Pte Ltd, Seah Metal Industries Pte Ltd and Tsingtech Recycling Pte Ltd) to ASCT. Further to the joint announcement made by ASCT and GW last month relating to the proposed acquisition by GW of CNA Manufacturing Sdn Bhd and PNA Technologies Sdn Bhd, ASCT and GW announced that ASCT will be acquiring the following three companies, which are the wholly-owned subsidiaries of GW: Tsing Yi Enterprises Pte Ltd, Seah Metal Industries Pte Ltd, and Tsingtech Recycling Pte Ltd.

ASCT also announced that it has established a new subsidiary company, Singapore Copper Technologies Pte Ltd.

The company also announced that it has established a joint venture company with ASTI Holdings Ltd. known as A-SCT Semicon Recycling Industries Pte Ltd, which will be charged with collecting industrial scrap materials from ASTI Holdings and their customers, as well as other related businesses.