Scholz achieves progress in divestment program

Essingen, (PresseBox) - .
- Sales of aluminum smelter in Hungary as well as yard in Velbert agreed

Scholz AG achieves progress in the current restructuring of the group. The international recycling group agreed on the sales of an aluminum smelter in Tatabanya, Hungary to the US-corporation Scepter Inc. The smelter is a member of Scholz aluminum group, being part of the non-core units of Scholz group, which shall be disposed. The factory in Hungary employs a total workforce of 81 employees.

Furthermore a German recycling yard in Velbert, North Rhine-Westphalia, has been sold to a subsidiary of Metallum Holding AG, Switzerland and therewith the density of the German location network has been further tightened. 34 employees in Velbert will be taken over by the purchaser.

In both transactions the parties have agreed not to disclose any information about the purchase prices. As reported in the past, the sales proceeds will be used to reduce the net debt of Scholz group.

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