China kidnap row extends to 2d firm

Dec 08, 2008 | 01:02 PM | Barbara O'Donovan

A second Chinese scrap company, Ningbo Zhenhai Guanghe Metal Recycling Co. Ltd., has become involved in the dispute over the alleged kidnapping of a U.K. metals trader in China after the company admitted it prevented the trader from leaving the country.

London-based nonferrous scrap trading company Goldarrow Metals Ltd. alleged in October that it paid a ransom of around $350,000 to a Chinese company after its senior trader, Anil Srivastav, was taken and held against his will while in China on a visit to discuss money his company was owed (AMM, Oct. 28).

Srivastav had been heading for Shanghai Pudong airport after tense negotiations over a shipment in a Ningbo customs yard made him feel "intimidated and insecure," V Sampath, Goldarrow's managing director, said previously.....

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