Ambrian to close metal-trading activities

Ambrian has determined that, in light of the prevailing uncertain business environment in the commodity sector, its metal-trading activities will be wound down in an orderly manner and closed over the next few months.

"Unlike the capital engaged in the Company's industrial asset base, capital employed in the metal trading activities can be released within a relatively short time span, strengthening the Company's resources," it said.

"As a consequence, following the closure of its metals trading business, Ambrian will focus on the development of its industrial asset base and on building a portfolio of businesses with a balanced risk profile and defensive income drivers.

"The Board is currently assessing a number of strategies, investments and corporate transactions which it believes could assist the Company in achieving these targets."