CRONIMET and TSR Group establish alloyed scrap JV in Czech Republic

Monday, 10 May 2010 16:14:33 (GMT+2)

German stainless producer CRONIMET Group and German scrap producer TSR Group have established a joint venture company CRONIMET Ostrava s.r.o., through which they will concentrate their alloyed scrap business activities in Ostrava, Czech Republic at the premises of the TSR Czech Republic.

"Both for TSR and CRONIMET, the startup of the company conspicuously strengthens our market position in the region. For CRONIMET, the step to the Czech Republic is a further component of the growth strategy in Central and Eastern Europe," said Kai Lohmann, managing director of CRONIMET Holding GmbH.

CRONIMET Group retains 60 percent and TSR Group holds 40 percent of shares of the business of the CRONIMET Ostrava s.r.o.

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