CWT carves out space in commodities bit by bit

[SINGAPORE] As the metals sector matures in Singapore, a company here - switching from Swiss to Singapore parentage - has grown in tandem.

MRI Trading has seen its revenue grow five-fold since it was acquired by CWT Limited, known for its warehousing and logistics business, in 2011.

The acquisition, in which CWT paid US$94 million for a 73.8 per cent stake, propelled the mainboard-listed group to become a global trader of base metal concentrates - the raw materials from which metals such as copper, zinc and lead are refined.

Since then, the firm has diversified into new products such as naphtha, and earlier this year, metals such as copper and nickel.

CWT had made the acquisition after observing tradi…