Page 14 - Port of Baltimore Jan/Feb 2011

[14] The Port of Baltimore ■ January/February 2011 To subscribe or renew, visitwww.marylandports.com
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Soundings
BUSINESS
— . — . — . — . — . — . — . — . — . — . — . — .
Metal Warehousing Company
Under New Ownership
Glencore International AG, one of
the world’s largest suppliers of
commodities and raw materials,
announced in September the purchase
of Pacorini Metals, an international metal
warehousing company whose American base
is in Baltimore. The sale is not expected to
affect Pacorini Metals’ local
operations.
“Our business model is
such that we were thriving
throughout the last three
years,” said Paolo Pacorini,
the former CEO of Pacorini
Metals, who stayed on
through December to assist
with the ownership transition.
Pacorini, pictured above, credited the
company’s growth to the efforts of his
“multicultural, smart and dedicated team.”
He had hired some people in Baltimore
and brought others over from the company
headquarters in Trieste, Italy.
Pacorini said the Maryland Port
Administration gave his company “a lot of
help,” as did other agencies such as the
Baltimore Development Corporation.
While other companies foundered during
the recession, Pacorini boomed. Pacorini
explained. “During recessions, industries
slow down production. Because our core
business revolves around storage of
commodities, there’s an opportunity for us.”
The company traded metals on the
London Metal Exchange, and Pacorini noted
that Baltimore is one of 10 ports in the U.S.
approved by the LME.
KATHY BERGREN SMITH
NEWSMAKERS
— . — . — . — . — . — . — . — . — . — . — . — .
MPA’s Barber, Magazine
Coordinator, Retires
After 20 years at the Maryland Port
Administration (MPA), filling a variety
of roles that included overseeing
production of the Port of Baltimore
Magazine, Rebecca Barber retired in
December. Barber served the MPA’s Office
of Communications by writing press
releases and speeches, performing media
relations and coordinating events. She was
also involved in various education outreach
efforts for Maryland students.