Provaluta Recycling SE
Recyc Commodities SE : Correction: Acquires 50 % of ECOAUTO Azahara SL, Spain
Recyc Commodities SE / Key word(s): Miscellaneous 18.05.2012 / 12:36 --------------------------------------------------------------------- Karlsruhe, May 18, 2012 - Provaluta AG, a subsidiary of the Recyc Commodities SE, announced its aquisition of 50 % of the company ECOAUTO Azahara SL, Cordoba, Spain, on May 15, 2012. The remaining 50 % of the company ECOAUTO Azahara SL, was aquired by the Tophedge AG. The Tophedge AG will act as liquidity provider for the investment. The ECOAUTO Azahara SL (www.ecoautoazahara.com), which will be renamed Provaluta Espana Reciclaje de Metales SL, is an auto stripper and recycler. The purchase of the company plays a very important future role for the group in that the existing investment Provaluta Espana SL is to be fully integrated into the new investment ECOAUTO Azahara SL in order to further expand the precious metals recycling business. Provaluta Espana SL's managing director, Rafael Gomez, was named as the managing director for the ECOAUTO Azahara SL. Mr. Gomez comes with over 17 years' experience in the branch and was previously employed by the largest auto recycler in the Cordoba, Spain region. ECOAUTO Azahara SL is located directly in Cordoba on a property encompassing 6,500 m². The company plans to increase the number of its employees to 12 by the end of 2012. Cordoba will be the central collection point for used catalytic converters for North Africa, South America, Portugal and Spain. It is planned to build a recycling and extraction plant similar to the existing one at the Karlsruhe subsidiary. The group possesses all permits in Spain allowing it to immediately undertake all activities related to the recycling of potentially hazardous raw materials. About Recyc Commodities SE The Recyc Commodities SE finances potential high growth companies in the recycling industry, in their early and expansion phases. The financial holdings are concentrated on innovative firms situated for the most part in Germany. Recyc Commodities invests in partnerships as well as in exchange listed corporations. In exceptional cases, Recyc Commodities is also prepared to take over the management functions for certain specially picked companies and / or service providers in the recycling- and raw materials business. Further information about Recyc Commodities SE can be found in the internet under http://recyc.info/ Recyc Commodities SE Herrenstraße 9 76133 Karlsruhe Germany T.: +49 (0)721 94 880 0 F.: +49 (0)721 94 88011 E.: recyc@recyc.info End of Corporate News --------------------------------------------------------------------- 18.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 170549 18.05.2012
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