Amsterdam/Berlin, 11 September 2014 – Metalcorp Group B.V., a specialist for the global physical trade in steel and non-ferrous metals and one of Europe’s leading independent producers of secondary aluminium ingots, is currently in the process of selling its 42% stake in the Spanish company Tamarix NOA S.L. The envisaged transaction is not expected to result in any further effects on Metalcorp Group, given that the interim Group accounts as at 30 June 2014 already reflect the transaction which is expected to be completed during the fourth quarter of 2014. The half-year accounts show Group sales revenues of EUR 172.5 million and consolidated earnings of EUR 1.4 million for Metalcorp Group. During the same period Tamarix achieved sales revenues of EUR 298 thousand and the loss attributable to Metalcorp Group amounted to EUR -178 thousand.
Contrary to what may have been reported elsewhere, both Metalcorp Group and its direct and indirect subsidiaries have at all times fulfilled all their obligations towards the involved partners. Against this background, the former shareholders have no legal right to demand that the shares in Tamarix be passed back to them. This view is confirmed in a legal opinion commissioned by Metalcorp.
Moreover, no legal proceedings for environmental liability have been instituted against Tamarix at this time. The “polluter pays” principle means that neither Metalcorp Group nor its member companies could become the subject of such legal proceedings. This view, too, is confirmed by a legal opinion.
Victor Carballo, CEO of Metalcorp Group B.V., says: “We continue to expect clear sales and profit growth for 2014, irrespective of the situation at Tamarix.”
About Metalcorp Group B.V.:
METALCORPGROUP operates in two segments, ‚Steel and NF Metals Trading‘ and ‚Production of Secondary Aluminium‘, where the company focuses on back-to-back transactions requiring no stock-keeping, which makes its operations virtually immune to current price trends in the international commodity markets. Key members of METALCORPGROUP include BAGR Berliner Aluminiumwerk GmbH, a company active since 1997, and the Steelcom Group, whose activities date back to the 1960s. An annual output of roughly 70,000 tons makes BAGR one of Europe’s leading independent producers of high-quality secondary aluminium ingots. Metalcorp Group B.V.’s corporate bond (ISIN: DE000A1HLTD2) has been listed in the Entry Standard for corporate bonds of Deutsche Börse AG’s Open Market (‚Freiverkehr‘ of the Frankfurt Stock Exchange) since June 2013.