October 14, 2016 / 11:33 AM / a year ago

Ambrian to close metals trading business

LONDON (Reuters) - UK-based commodities trading and logistics services company Ambrian Plc (AMBR.L) is planning to wind down its metals trading activities over the next few months due to an uncertain business environment in commodities, the company said on Friday. [nRSN5126Ma]

“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,” it said.

“The board is currently assessing a number of strategies, investments and corporate transactions which it believes could assist the company in achieving these targets.”

Ambrian has offices in London, Shanghai, Taipei and Singapore and a network of agents in North and South America, Asia and the Middle East.

Reporting by Pratima Desai; Editing by Greg Mahlich

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