Concord Resources Limited (Concord) has acquired an equity position in New Day Aluminium Holdings LLC, the parent company of Noranda Bauxite and Alumina, according to news reported by Jamaica Observer.
Concord is a global resources merchant focused on the supply chain and risk management of nonferrous metals and associated raw materials. It is incorporated in the United Kingdom, and headquartered in London.
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“We have been working closely as a marketing partner with New Day from very early on, and are pleased to be able to acquire an equity position in the company. We view this strategic investment as a terrific opportunity to expand our partnership with a proven management team executing a strategy we are pleased to be supporting to add value,'' Mark Hansen said.
Concord's CEO Mark Hansen has been appointed to New Day's Board.
Chairman and CEO of New Day and Noranda Bauxite and Alumina, David D'Addario, commented: “We welcome Mark Hansen to our Board, and are pleased that our vision for the future has attracted significant investment from such a well-respected international player in our industry.”
Concord has been a key marketing partner for us since we acquired this business, and its confidence in our success is manifest in this acquisition of an equity stake in our company.”
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