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Yoonbeom Choi, Chairman of Korea Zinc. (photo= Korea Zinc) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] Korea Zinc will acquire Kataman, a U.S. trading company that trades scrap metal, scrap aluminum and copper. Analysts say Korea Zinc is seeking M & A with related companies to expand its recycling business, which is focusing on next-generation food.
Korea Zinc announced on the 1st that it will acquire a 100% stake in Kataman through Pedalpoint Holdings, a US subsidiary. The acquisition amount is 55 million dollars (about 74.1 billion won). In addition, Kataman will provide payment guarantees for 269.5 billion won in loans from operating funds. Catterman is a company that buys 300,000 tons of scrap metal, copper and aluminum scraps (crumbs or waste) annually and sells them back to the world. Over the past three years, the average annual trading volume has reached $ 1.5 billion (about 2.235 trillion won).
Korea Zinc is paying attention to Kataman's recycling capabilities. The recycling business is a business that brings waste metals such as waste electric devices, waste batteries, and scrap metal to extract raw materials and reuse or sell them.
Korea Zinc expects to solve the supply problem through Kataman.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
