Central European Waste Management Invests Millions in Copper

Online, April 28, 2011 (Newswire.com) - NEW YORK, New York - According to reports by American Television Network C.B.S., Frederick Von Strasser, the chairman of recycling conglomerate Central European Waste Management has invested more than two-hundred million Euros in base metals in the past year, mostly in copper and aluminum. This follows a London Daily Telegraph report that the U.S. Banker J.P. Morgan has also invested more than one billion US dollars in the metal.

During a recent trip to Asia, Von Strasser was quoted in the Boston Globe as saying that he believes, "copper will continue to rise."

"The following factors are in force here: there is a continued and strong demand from emerging markets, hedge funds and [the U.S. Banker] J.P. Morgan are in the market, and the supply chain was interrupted and is at risk again from industrial action in South America."

Since July 1, 2010, copper has surged more than forty-two percent. Glencore Group, a leading supplier, is planning a full market listing next year, and Von Strasser sees this as their way of tapping into massive shareholder funding currently unavailable to them as a private company.

According to the Wall Street Journal, the LME (London Metal Exchange), considered the hub of base-metals trading, says that its' warehouses hold about 350,000 tons of copper, down from 555,000 tons at the same time last year. This decrease suggests prices may well continue to rise.

Von Strasser, who is now chairman of Central European Waste Management headquartered in Wels, Austria, originally made his fortune in South Africa in 1979. He pioneered a process whereby mercury used in the gold mining industry was economically removed from the mine workings. Since then, he has become known for his large scale environmental projects, including the clean-up of toxic waste sites in Somalia and Mozambique, and now in the Gulf Coast of the United States.

"I freely acknowledge," he famously said in an interview with the South African Rand Daily Mail, "that I am a businessman and industrialist first. However, today, steel recycling goes hand-in-hand with environmentalism."

In 2005, after visiting Somalia, Von Strasser vowed to put at least 60% of his vast wealth into, "companies, research and grants focused on earth-friendly economic development." It is yet to be seen whether he will apply this same principals now at the helm of C. E. Waste Management.

According to the New York Daily News, Money Section, "since the company's appointment of Von Strasser as CEO in early 2010, C.E. Waste Management has undergone a series of expansions and mergers climaxing with the company's acquisition of eight recycling plants in Germany, Italy and the Czech Republic. Further, recent press reports have revealed that Von Strasser has invested millions of Euros of the recycling company's assets into the purchase of large quantities of copper, a successful bet with copper prices now hovering at record highs."

Read more from the New York Daily News at:

http://finance.nydailynews.com/nydailynews/news/read?GUID=16408063#ixzz1DgmqJj00

Read more from the Boston Globe at:

http://finance.boston.com/boston/news/read?GUID=16256597