13th Jun 2008 07:00
AIM: AMBR
AMBRIAN HIRES LEADING INTERNATIONAL
PHYSICAL METALS TEAM
Eight strong physical metals team to join Ambrian
Ambrian Capital plc ("Ambrian Capital") announces that it will be joined by a highly experienced physical metals team from the Varomet Group, a subsidiary of Straits Resources Limited.
This new team will form Ambrian Metals Limited ("Ambrian Metals"), a newly created wholly-owned subsidiary of Ambrian Capital, and will be led by Mark Homer. The eight-strong team comprises salesmen, traders and logistics managers based in London and Shanghai. In addition, there are agents based in Calcutta, New York and Santiago.
Ambrian Metals will globally source non-ferrous metals from producers for distribution to an international client base. Ambrian Metals will focus on providing its clients with a consistently high quality product, logistics services and price management. Ambrian Metals will manage all facets of marketing and distribution including financing from producers to consumers and has put in place committed financing facilities with a syndicate of major international banks.
Mark Homer has over 30 years' experience in the physical metals market including a period at Gerald Metals. In addition to leading the team, Mr. Homer will focus on the copper and zinc business in primary, secondary and scrap products on a global basis. Mr. Homer will be joined by Owen Benninson who also has extensive experience in the physical metals market and also worked previously with Gerald Metals. Mr. Benninson will manage the global copper wire rod book and assist with the secondary metals and primary cathode trading with his main focus on the Middle East and Indian markets.
Commenting on the announcement, Tom Gaffney, Chief Executive Officer of Ambrian Capital said, "The physical metals business provides valuable market intelligence, complements our London Metal Exchange broker-dealer activities and enhances our corporate relationships with both producers and consumers of non-ferrous metals around the world. Our objective is to capture a share of the value created in the re-distribution of metals from producing countries to consumers in resource hungry parts of the world."
Enquiries
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Malcolm Freeman Managing Director Ambrian Commodities Limited
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Tel: +44 (0) 20 7634 4700 |
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Hugh Field Collins Stewart Europe
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Tel: +44 (0) 20 7523 8325 |
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Louise Goodeve / Justine Howarth Parkgreen Communications
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Tel: +44 (0) 20 7851 7480 |
Notes to editors:
About Ambrian Capital plc
Ambrian Capital plc is an AIM listed (AIM: AMBR) specialist investment banking group focused on the mining, oil & gas, alternative energy and new technology sectors. Ambrian Capital plc provides corporate finance, stockbroking, commodity broking and investment management services to institutional and corporate clients. Ambrian Capital is also an active principal investor in the natural resources sector.
Ambrian Partners Limited, Ambrian Commodities Limited and Ambrian Asset Management are each authorised and regulated by the Financial Services Authority. Ambrian Partners Limited is a member of the London Stock Exchange and Ambrian Commodities Limited is an Associate Broker member of the London Metal Exchange.
For further information on Ambrian Capital, please visit: www.ambrian.com
Related Shares:
AMBR.L