CMA buying scrap processors in New Zealand and Australia

Sep 16, 2005 | 09:06 AM | Jo Clarke

Newly listed Australian metals recycler CMA Corp. Ltd., Perth, will buy Scrap Metal Recyclers Ltd., New Zealand's second-largest scrap company, and Australia's Northern Territory Metal Recyclers for Australian $15.8 million ($12 million).

The acquisitions will put CMA, which started trading on the Australian Stock Exchange in July, into second place in the New Zealand scrap market, behind Sims Group Ltd., and bring it closer in size in Australia to Sims and Smorgon Steel Group Ltd., Melbourne, Australia.....

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