Multi Million Euro Acquisitions Form Central European Waste Management

New Recycling Conglomerate's Holdings Estimated At More Than 300 Million Euros


(Original Press Date: 16 April 2010) - The Austrian newspaper, The Standard, reported the formation of the new conglomerate, Central European Waste Management (also known as C.E. Waste Management), with the acquisition of the thirty-year-old Paradigm Industrial Metals, Vulcan Holdings AG, and several smaller recycling enterprises in Germany, Italy and the Czech Republic.

This would make the company, headquartered in Wels, Austria, a major force in the recycling industry in Middle Europe, with holdings estimated at more than 300 million Euros.

The Austrian Industrialist, Dr. Frederick Von Strasser, the majority shareholder in Paradigm Industrial Metals, will become chairman of Central European Waste Management. Dr. David Edery, president since 2002 of Paradigm, will remain in that position. According to Von Strasser, the merger will reduce overhead, lead to more efficiency and less redundancy in administrative operations.

According to company sources, the Export Office of the business, to be relocated to Wels, Austria, will focus more on exports outside of the European Union, where prices and demand for recycled metals and plastics have not been effected significantly by the economic slowdown experienced in Europe and North America.

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