The Canadian company American Iron & Metal (AIM) bought 50 percent of the shares of companies with 14 yards to process scrap in Mexico. The operation was carried out last August and was recently notified to the Hong Kong stock market by Chiho Environmental Group that it sold its shareholding in two operations for $20 million.
Chiho informed the Hong Kong stock market that it sold its shareholding in the Kalischatarra company, a 50/50 joint venture with the American Kalisch Investment Group.
The sale was carried out in two operations, both for 50 percent of Chiho's shares. In the first operation, AIM paid $16.5 million. In this operation, the sale value of these assets was MXN 894 million, a figure that at today's exchange rate is equivalent to $44.8 million.
In the second operation, also for 50 percent of Chiho's shares, AIM paid another $3.5 million.
Kalischatarra is engaged in the purchase, sale, transformation and commercialization of scrap through its subsidiaries Comercializadora de Reciclados Iron, SA de CV and Recable, SA de CV, both incorporated in Mexico, with 14 scrap yards in the north and northwest of Mexico.
One of the key yards is in Chihuahua, Mexico, equipped with a shredder to process scrap from its yards. The product is sold to mills in Mexico or the southwestern United States. The company also deals in significant amounts of non-ferrous metals, primarily aluminum, stainless steel and copper.
Currently, AIM 's partner is Holding Asesoria, owned by Samuel Gustavo Kalisch and his father, Samuel Gustavo Kalisch Valdez.
According to Chiho, Kalischatarra obtained net (audited) profits of MXN 63.4 million in 2020 and MXN 361.5 million in 2021, figures that at today's exchange rates are equivalent to $3.2 million and $18.1 million, respectively.
The Asian company justified the delay of the notification of sale to the change of administration, because in 2016 it was bought by the German group Scholz Holding.