Not one for the Korean-Emirati scrapheap? Hyundai to buy scrap metal from UAE's Atlantis Global

Hyundai International, part of the Korean automobiles-to-contracting conglomerate, has signed a deal in Dubai with UAE-based Atlantis Global Enterprises to source scrap metal, iron ore and precious metals for use in its businesses worldwide. Atlantis Global, which is part of the Planet Core Group, will source recycled steel and other metals from the Middle East and North Africa. This will be used to serve Hyundai businesses involved in the shipping, automobile, rail, metals, energy and petrochemicals businesses. Hyundai International CEO, Jeom Ho Kim, said: “Hyundai International is focused on constantly creating new growth engines and in this endeavor, I am delighted to partner with a credible company like Atlantis Global to expand our footprint in the MEA region and for various supply requirements of our group companies. “I am confident that Hyundai's global expertise coupled with Atlantis Global's strong sourcing capabilities in the Middle East and Africa will result in a successful partnership. The deal will also see Atlantis marketing Hyundais earthmoving and construction machinery businesses across the region, as well as exploring joint opportunities in the construction steel supply market. Dilip Kulkarni, CEO of Atlantis Global, added: “The partnership allows both organisations to establish a robust general trading network where we can leverage each other's geographical reach, sourcing capabilities and project execution skills.