Trader Metalcorp relocates to Luxembourg

Steel trader Metalcorp Group has recently moved its headquarters from Amsterdam to Luxembourg. This is in order to simplify its corporate structure and reduce administrative costs, it says in a statement monitored byKallanish.

The company is active in diverse sectors, in trading as well as production. Apart from its procurement, logistics and trade services of steel and non-ferrous metals, it claims to be one of Europe’s leading independent producers of secondary aluminium ingots.

Its steel trading activities achieved revenues of €127 million ($145m) in the first half of 2018, making up around 38% of the company’s total revenue, Kallanish learns from a spokesman. Metalcorp also owns Greek steel pipe and hollow sections producer Nikolaidis Bros in Thessaloniki.

The company mentioned in 2018 that it was bidding for another steel producing, or processing company which it did not name. An acquisition did not happen, its spokesman says, but notes that the company continues to “… test options for takeovers.”