METAL MANAGEMENT COMPLETES MORRIS RECYCLING ACQUISITION
Metal Management Inc., based in Chicago, has completed the acquisition of substantially all of the assets of privately held Morris Recycling Inc., New Albany, Miss. Terms of the transaction were not disclosed.
Morris Recycling is a full- service scrap metal recycler serving Mississippi and parts of Arkansas, Tennessee and Alabama. The company has 10 facilities, including a shredding plant on the Mississippi River, and handles roughly 240,000 tons of ferrous metals and 32 million pounds of nonferrous metals yearly.
"The Morris assets fit neatly into our existing footprint in the Mid-South region and advance our ambition to make Metal Management the largest, strongest and most profitable scrap metal recycler in North America," Daniel Dienst, Metal Management chairman, president and CEO, says. "We expect that this acquisition will be accretive to Metal Management’s earnings per share and will provide us with additional facilities from which to serve our important customers and consumers." Dienst adds that the transaction "exemplifies our disciplined approach to pursuing value-creating acquisitions that complement our existing operations."
According to a press release, Metal Management has received the necessary approval from its lenders and is funding the acquisition with cash on hand.
Metal Management is among the largest full-service metal recyclers in the United States, operating 50 recycling facilities in 16 states.
MIDWEST SCRAP MANAGEMENT OPENS NEW PLANT
Midwest Scrap Management, headquartered in St. Joseph, Mo., has opened its newest scrap yard in Kansas City, Mo.
The new facility covers 53 acres and includes a mega auto shredder from Harris Waste Management, Peachtree City, Ga.
While Midwest Scrap has a smaller shredder at its St. Joseph plant, the new mega shredder has a 7,000-hp motor, which should allow Midwest Scrap Management to process between 350-400 tons of material per hour, according to the company.
The new facility is located at the site of the closed GST steel mill. Rail siding and a nearby highway make the site an ideal location for the facility, according to the company.
A company spokesman says Midwest Scrap Management expects to have around 50 people employed at the site when fully operational.
Midwest Scrap is also looking to site a facility in Sedalia, Mo. According to local press reports, the company hopes to have a site selected within the next one to two months.
RIVER METALS OBTAINS ISO CERTIFICATION
The River Metals Recycling LLC (RMR) subsidiary of The David J. Joseph Co., Cincinnati, has obtained ISO 14001-2004 certification for its Fort Mitchell, Ky., office and four of its Kentucky scrap processing facilities.
The company went through a six-month process to attain the certification for the five locations, including scrap yards in Henderson, Louisville, Newport and Somerset, Ky. The locations had previously been certified as ISO 9001-2000 facilities.
"The ISO 9001 and ISO 14001 accreditations are milestones in the history of RMR," says Alan Crouch, president of River Metals Recycling. "We are very proud of these accomplishments, which are tributes to our employees’ dedication to providing the highest quality and ongoing environmentally friendly service."
Among the quality measures in place at River Metals is the use of three Gamma-Tech Crossbelt Metal Analyzers, which help the company produced shredded scrap to specific, narrow chemistries. RMR ships shredded product that passes under the machines as Gamma Shred, which it markets as containing lower levels of residuals.
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