Vanomet and Trafigura enter into strategic partnership to procure mineral supplies for SSI group
Zug / Geneva, 16th December, 2014 – Vanomet Holding AG (“Vanomet”) and Trafigura PTE Ltd (“Trafigura”) have entered into a strategic long term cooperation to leverage their respective purchasing, marketing and financing expertise to handle the trade flows related to the steel industry. In particular, the partnership will focus on financing and supplying iron ore and coking coal to Sahaviriya Steel Industries UK Limited (SSI)’s Redcar iron and steel making facility in Teesside, UK.
The MOU signed between Vanomet and Trafigura this week has created a strong new partnership. This is based on the trading companies’ depth of experience and financial strength. Vanomet, an established international trader in steel and raw material, is a 20 percent shareholder of SSI’s PLC parent company and already performs various services for the SSI Group. Trafigura is one of the world’s leading international commodity traders and already engaged in the iron ore and coking coal business.
“The new partnership is a significant and positive step forward, and represents a strong alliance bringing together a great deal of experience and expertise from both companies. The synergies between the partners will enhance further the level of service available to customers in the steel industry in general. It is also positive news for SSI, in terms of further strengthening and optimizing its raw materials procurement opportunities”, said Ruedi Mathis, Chief Executive of Vanomet.
“Trafigura is an existing supplier of raw materials to the steel industry,” said Simon Collins, Head of Metals and Minerals Trading for Trafigura. “We have significant investments in infrastructure that support our trading business, including the Burnside coal terminal in Louisiana and the major iron ore port, Porto Sudeste near Rio de Janeiro. This, as well as our shipping and chartering operations, allows us to buy deeper along the supply chain and bring greater optionality to this new partnership. We are delighted to be working alongside Vanomet.”
ENDS
For further information please contact:
Trafigura’s Global Press Office: +41 22 592 4528 or media@trafigura.com
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Notes to editors
About Vanomet
Vanomet is one of the world's largest independent steel trading companies handling over 8mio metric tons of steel products and raw material. Vanomet, registered under Swiss law, was founded in 1991 by Ruedi Mathis, a steel specialist with many years of experience in the industry, providing a full range of services tailored to specific clients’ needs including consulting, financing, marketing, trust services, and logistics. Vanomet is a diversified international trading company with its head office in Zug, Switzerland handling a variety of steel products including steel scrap, iron ore, metallurgical coal and coke through a large network of offices and agencies throughout the world. Vanomet has five wholly-owned subsidiaries which are Vanomet AG, Vanomet Finance AG, Vanomet International AG, Vanomet Asia AG, and Atlantic Steel AG. www.vanomet.com
About Trafigura
Founded in 1993, the Trafigura Group has become one of the world’s leading independent commodity traders, specialising in the oil, minerals and metals markets. Primary trading activities are the supply and transport of oil and petroleum products and metals and minerals. The trading business is supported by industrial and financial assets including global oil products distribution company Puma Energy; joint venture company DT Group; global terminals operator Impala; Trafigura’s Mining Group and Galena Asset Management. The Trafigura Group is owned by 600 of its 5,600 employees who work in 36 countries around the world. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. www.trafigura.com