Specialty Metals Trading SA (SMT) is buying a stake in Apex
Material Technologies LLC.
"SMT will take a
one-third share in the Chicago-based copper, nickel and cobalt
recycling and production company ... effective June 30," the
Brussels-based trading company said June 27.
Apex, which is
well-known for producing high-grade copper oxide, has expanded
into recycling copper and nickel, as well as cobalt, and has
added a long list of metallic chemicals.
"During the first
years, the priority was ... the revamping of the plant and
solidifying the operations and business," Lee Welgs, executive
vice president and general manager of Apex, said. "The entrance
of SMT as a partner will give Apex an extra boost as SMT will
bring international expertise on various metals and feedstocks
as well as an impressive network of partners."
"SMT is building
further on its vision to become a global player next to its
current activities in Africa, China and Europe," Dirk
Uytdewilligen, partner at SMT, said. "It emphasizes its
philosophy to create value in the total supply chain, including
recycling. On top, Apex will add metals such as copper and
nickel to its existing portfolio."
SMT traditionally has
focused on cobalt, tungsten and tantalum.
A version of this article was first published by AMM sister
publication Metal Bulletin.