SDI ACQUIRES ROANOKE ELECTRIC STEEL
Steel Dynamics Inc. (SDI), based in Fort Wayne, Ind., is in the process of acquiring Roanoke Electric Steel Corp., Roanoke, Va.
"This combination further diversifies SDI’s product offering, provides additional penetration of the joist, truss and girder markets and provides SDI with its first foray into the processed raw materials arena," says Keith Busse, SDI’s president and CEO. "The combination will enable us to broaden our geographic presence and strengthen our relationships with customers. We plan to invest $50 to $80 million to improve and upgrade Roanoke’s facilities after the transaction closes."
Steel Dynamics operates three steel mini-mills that produce a wide range of steel products, including flat-rolled products, such as hot-rolled, cold-rolled and coated steels; wide-flange beams and H-piling; rail; and special-bar-quality round bars. SDI also produces joist and decking products for the non-residential construction market in two fabrication plants.
Roanoke Electric Steel Corp. has steel manufacturing facilities in Roanoke, Va., and Huntington, W. Va. Four of the company’s subsidiaries are involved in various steel-related activities, consisting of scrap processing and bar joists and truck trailer beam fabrication.
The merger will increase SDI’s total steelmaking capability to approximately 5.2 million tons, according to a release from the company.
OHIO ASR-EXEMPTION BILL AWAITS GOVERNOR’S SIGNATURE
Ohio’s State Senate and House have approved a bill that seeks to exempt automotive shredder residue from generation fees.
House Bill 100 was passed overwhelmingly by both houses, according to the bill’s chief sponsor Rep. Mary Taylor. The bill awaits Gov. Taft’s signature to be enacted into law.
If signed into law, any solid waste district in Ohio could exempt automotive shredder residue from the district’s generation fee. Presently, districts are mandated to assess the fee to auto shredding companies.
Under the bill, ASR would include non-recyclable residue generated as a direct result of the shredding of autos, appliances, sheet metal and other metals in a hammermill shredder. While the residue is considered solid waste, it is not considered hazardous waste.
Under the proposed law, a solid waste management district’s policy committee may establish procedures and requirements that are necessary for the administration and enforcement of an exemption. If the district’s policy committee seeks to eliminate an ASR exemption from the district’s generation fee, the committee can adopt the resolution without ratification.
Twelve auto shredders operate in Ohio.
SCRAP RECYCLER OPENING MICHIGAN PORT FACILITY
Monroe Recycling LLC, part of Sturgis Iron & Metal, will open a scrap facility at the Port of Monroe, Monroe, Mich.
The port sits on the River Raisin, which feeds into Lake Erie. The location will allow Monroe Recycling to take advantage of water and rail access to ship material. The company says it hopes that the facility will be partially operational by the first half of 2006, reaching full operation by the end of the year.
The new scrap yard will cover around 15 acres and is expected to handle between 4,000 to 5,000 tons of scrap metal per month from industrial and street traffic. Monroe Recycling signed a 50-year lease on the property, which is located in a part of Monroe zoned for heavy industry. The company also has purchased three adjacent acres.
Monroe Recycling expects to spend nearly $3 million to develop the yard, which will likely include a baler and a crane. The company also expects to add a rail spur to the property, giving it the flexibility to bring in material via rail as well as by truck.
Sturgis owns and operates more than six scrap recycling facilities and has a significant presence in parts of Michigan and Indiana.
CHINA TO CUT COPPER SCRAP IMPORT DUTY
China will reduce the import duty on copper scrap in 2006.
According to a report in Asia Pulse, the import-duty reduction aims to promote the development of the metal recycling industry and to safeguard the nonferrous metal sector in the country.
Copper production in China reached 1.85 million tons during the first three quarters of 2005, an increase of 18.4 percent from the same period in 2004, according to Asia Pulse. Imports of copper scrap were at 2.6 million tons for the same period, increasing 30.4 percent from 2004 figures.
Explore the January 2006 Issue
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