Engelhart Commodities Trading Partners (ECTP) moved closer to exiting London Metal Exchange warehousing operations on Tuesday April 16, with the sale of its European sheds and stocks to Dutch logistics company Kloosterboer.
The purchaser is well known for its juice-processing facilities but as yet has only a small presence in the metals markets."Kloosterboer is now especially active in fruit juice, among other things, but will get bigger in base metals with this acquisition. It is not only taking the warehouses but also the stocks that ECTP was holding," a source close to the deal told Fastmarkets.The sale included ECTP's LME-listed warehouses in the Netherlands under the name of Engelhart Warehousing (UK)....