Trafigura acquires NEMS LTD
10 March 2010 - NEMS Ltd is an approved London Metal Exchange (LME Metals Storage) warehouse company, established in 1993. The company has a strong presence in the UK, Europe and Asia. NEMS Ltd runs warehouses in Sunderland, Newcastle Upon Tyne, Hull, Liverpool, Rotterdam, Gebze (Turkey) and Baltimore; while NEMS (Singapore)Pte runs operations in Singapore, Pasir Gudang (Malaysia), Incheon, Gwangyan and Busan (South Korea) and Taiwan.
Pierre Lorinet, Trafigura’s Chief Financial Officer, commented: “This acquisition reflects our commitment to ongoing investment in logistics and warehousing within the metals and minerals sector. NEMS Ltd will continue as an independent operation, providing global storage facilities for third parties as well as warehousing for Trafigura’s products.”
The current NEMS Ltd management will continue to manage the business.
Charles Bucknall, Managing Director at NEMS Ltd, added: “There is no doubt that this is a tremendous opportunity for the management team of NEMS to expand our business, and in particular our logistics operations, on a global basis. We are delighted to be a part of Trafigura.”
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