China’s CMR in 5M-tonne scrap venture

Nov 23, 2010 | 01:25 PM |

China Metal Recycling (Holdings) Ltd. (CMR) will set up a 5-million-tonne-per-year scrap metal recycling base in the northern port city of Tianjin in conjunction with Tianjin Pipe (Group) Corp. and 11 other scrap suppliers.

Tianjin Pipe, the world's largest single-plant seamless pipe producer, will hold the biggest stake in the joint venture. The 37.5-percent interest it takes will require an estimated investment of 900 million yuan ($135 million), according to Hong Kong-listed CMR.....

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