Galaxy Magnesium Establishes Metal Commodity Trading Office
Directed by Industry Veteran Greg Gershuny
NEW YORK – March 12, 2021: Galaxy Magnesium announces the formation of a full-service metal commodity trading office, headed by industry veteran Greg Gershuny, Executive Director of International Metal Sales. This adds to Galaxy’s growing lines of business, with significant implications for the non-ferrous metals market, and opens up unprecedented access to China’s most productive magnesium mines. Galaxy is streamlining global supply chains, offering custom alloys for unparalleled performance and leading the way to a lightweight future through reasonable, stable cost, guaranteed quality commercial magnesium.
Mr. Gershuny today confirmed the closing of an initial contract with a Canadian magnesium company servicing the automotive industry.
Greg Gershuny has operated in the metal commodities sector, both upstream and downstream, for over 25 years. He began his career as an expat commodity trader in Moscow and then as Vice President with Mitsubishi International Corporation, where Greg expanded global profits by more than 500%, growing global aluminum sales to more than 2.5M metric tonnes.
Greg Gershuny said, “Magnesium is a promising new metal market on the global commodity stage; it offers many untapped advantages over aluminum to the industrial consumer.”
Recently, Greg became known for successfully launching Coca-Cola’s hedging program for recycled magnesium. Risk control was a critical factor in early management support for the rapid growth of Coca-Cola Recycling.
Mr. Gershuny specializes in open international commodities trading — aluminum, magnesium, and other non-ferrous metals. Collaborating with the biggest mining companies such as Rio Tinto, Greg built a reputation for precise placement and responsive delivery of large quantities of metals at fair contract prices.
According to Galaxy Chairman Michael North, Greg was selected for his expertise as a commodity trader, his familiarity with magnesium and commitment to greening the metals sector, his intercultural competence and experience with greenfield mines, and his mastery of risk-management and mitigation.
Michael North commented, “We are pleased to welcome Greg Gershuny to the growing Galaxy team. He works on the frontiers of international business, understanding political, financial and logistical risk and opportunity. His commitment to high professional standards in the industry makes Greg a strong leader to bridge cultures and bring environmentally-efficient magnesium to the world.”
Galaxy Magnesium commodity trading opens the gateway to a direct-from mine stable supply of quality magnesium for smelters, producers, integrated fabricators and manufacturers. Reliable access to hundreds of thousands of tonnes of mined reserves annually will transform automotive lightweighting, electric vehicle battery manufacturing, efficient gas and oilfield production, aircraft and space performance, heavy construction, medical devices and pharmaceuticals, by offering minimally disruptive alternatives to aluminum, steel, cobalt and lithium.
China’s non-ferrous metals have consistently generated positive returns for extractors, traders and investors. Global demand for magnesium continues to strengthen as post-pandemic manufacturing gains momentum, and industrial customers transition to a more environmentally-sensitive metal.
About Galaxy Magnesium
Galaxy is the world’s premiere direct source of magnesium, revolutionizing entire industries with light, strong, versatile, durable and green magnesium – superior in many ways to steel or aluminum alloys. An international company based in the United States, Galaxy is streamlining global supply chains, offering custom alloys for unparalleled performance and leading the way to a lightweight future through reasonable, stable cost, guaranteed quality commercial magnesium. With offices in America, Europe and Asia, Galaxy is well-positioned to responsively serve global markets.
Press contact: Matt Lorin +1-808-469-7667
Business contact: Michael North +1-323-422-9602
EIN Presswire: Press Release