we expected to see continued interest in the scrap metal market, but these numbers are astonishing.
Bristol, UK (PRWEB UK) 11 February 2012
Information compiled from the latest Companies House registration data shows a continued surge in scrap metal company registrations. As the price of metals continues to rise, the growth in market value creates more opportunities and increased levels of competition.
Data collated and analysed by company formation agents Duport Associates Ltd shows that 2011 was a record year for companies registered containing the words “scrap metal” in their name.
The data shows scrap metal company registrations have grown 25% over the previous record year in 2010. The numbers also reveal an increase of over 1000% since 2005 when the price of common metals began to rise sharply.
Peter Valaitis, Managing Director of Duport stated: "Following a sustained increase in the value of common metals we expected to see continued interest in the scrap metal market, but these numbers are astonishing.”
Following an epidemic of disruptive and high profile metal thefts in recent years, the Government is now seeking to tighten regulation in the scrap metal industry. It is unclear if the growth in scrap metal companies will continue once they come into force.
Duport Associates Ltd is a leading UK company formation agent, operating in the UK for around 15 years. Duport registers around 10,000 new companies each year using its Companies House approved software. The Company Register which is maintained by Companies House contains public information about limited companies and directors.