Valcambi SA to Acquire Republic Metals Corporation; RMC Files for Chapter 11
Yes, it is true, Valcambi SA intends to acquire Republic Metals Corporation, a refiner located right here in Miami. What the press release (dated October 29, 2018) fails to specifically mention, is that on Friday, November 2nd, Republic Metals Corporation filed for Chapter 11 bankruptcy. They did note that the two companies were working through the logistics of the planned integration, of which step one appears to be a bankruptcy filing. You can see the original filing from earlier today here.
As a best practice, we have put all of the Republic Metals Corporation products in an “Out of Stock” status until we are fully assured that Valcambi has achieved full control of their product and shipments.
BALERNA, Switzerland /PRNewswire/
Valcambi SA, one of the world’s largest gold refiners, today announced that it has reached an understanding to acquire Republic Metals Corporation (RMC), a precious metals refiner based in Miami US, subject to completion of the final steps of due diligence. The two companies are working through the logistics of the planned integration.
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The combined entity will ensure more efficient and better service to the existing and prospective clients of RMC. The combined entity will enhance the quality control, technology and various other aspects of refining of RMC and would make RMC one of the most preferred and best refinery of precious metals in the world.
Valcambi is a world leader in the refining of precious metals with more than 55 years of experience. Based in Switzerland, the company operates one of the world’s largest and most efficient integrated precious metals plants, with an annual refining capacity of up to 2,000 metric tonnes. Valcambi refines gold, silver, platinum and palladium and offers a broad range of products and services of the highest global quality. The company is committed to conduct its activities in a responsible manner, to drive industry best practices and to unlock development and growth opportunities.
SOURCE Valcambi SA
