Indian metals trader expands reach despite downturn

December 11, 2015 8:35 AM

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Indian metals trader expands reach despite downturn

MELBOURNE As a global rout in commodities drives metals traders to close up shop or lay off staff, Indian-owned industrial metals firm UD Group is setting out expansion plans, boosting staff and moving into more countries.

The Singapore-based firm, which has a metals trading arm as well as mining, industrial and renewable units, recently opened an office in Beijing to grow in North Asia and is set to buy a small Swiss trading house, said Chairman Prateek Gupta.

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