LONDON ThyssenKrupp Metallurgical Products GmbH has
acquired the metal trading business of BenMet as it eyes new
business in cobalt and expansion in North and South America.
BenMet, founded by president Derek Benham and based in New
York, is active in the North and South American markets,
trading nickel, cobalt, cobalt oxide and other minor metals.
Its customers are mainly in the superalloys, alloying and
With the acquisition, ThyssenKrupp Metallurgical Products
is significantly expanding its activities in North and South
America and widening its product portfolio appreciably,
the German trading house said.
The trading team at BenMet will operate under ThyssenKrupp
ownership and will still be managed by Benham for the next few
The two companies agreed not to disclose the price of the
acquisition. BenMets business activities will be combined
with those of ThyssenKrupp Metallurgical Products as soon as
This will strengthen our local customer and supplier
structures, enabling us to develop market share for existing
and new products in a targeted way and achieve further
strategic growth, ThyssenKrupp Metallurgical Products
managing director Kai-Norman Knötsch said.
BenMet is the agent for Jinchuan Group Co. Ltd.s cobalt
sales in the United States and Europe.