Ambrian to shut down metals trading business

AIM-listed commodities trading and logistics company Ambrian is to close its metals trading business due to the “prevailing uncertain business environment” in the sector.

Metals trading would be wound down and closed over the next few months as the company focuses on developing its industrial asset base and building a portfolio of businesses with a balanced risk profile and defensive income drivers.

The company currently considering a number of strategies, investments and corporate transactions which could help it achieve its targets.

Ambrian also invests in industrial assets such as the cement plant and ready-mix concrete facilities in Mozambique.

Chief executive JP Conrad, said: "The long term fundamentals of our cement producing and marketing business remain solid. We continue to drive operational improvements which benefits will be captured to their full extent once the Mozambique economy resumes its historical growth pattern.

“Moving out of the metals trading activities allows Ambrian to become a more focused organisation and accelerate the performance and development of our industrial asset base."

Shares in Ambrian were down 5% to 2.38p at 1523 BST.