AMG Resources acquires Ohio metals producer

Pittsburgh-based AMG Resources says it has acquired the assets of Canton, Ohio-based Galt Alloys, a producer of ferro-titanium and ferro-aluminum. AMG says the acquisition was made via an affiliate company.

Galt Alloys melts scrap to produce ferro-titanium lump and powder and ferro-aluminum ingots used in the steelmaking industry, AMG says.

“Like AMG Resources, Galt Alloys specializes in producing premium, known-chemistry raw materials for the steelmaking industry,” says Eric Goldstein, president of AMG Resources. “AMG Resources has been a key supplier of titanium and aluminum scrap to Galt Alloys and is excited about the opportunities that this acquisition will provide for both companies to better serve their customers.”

On its website, Galt Alloys says its Canton facility “houses four induction furnaces that can melt a full load (45,000 pounds) per day and our crushers can produce a full load of lump and powder in that same time.”

AMG says the acquisition will add breadth to its already horizontal position in the American metals and manufacturing sectors.

“In addition to being one of the nation’s largest ferrous and nonferrous scrap metal processors and marketers, AMG Resources is a leading seller of prime and secondary steel products, and its International Steel & Counterweights LLC affiliate is the United States’ largest manufacturer of steel counterweights, primarily for use in elevators and heavy equipment, and a major distributor of elevator rails,” the firm says.

In 2021, AMG increased its scrap presence with the acquisition of West Virginia-based Strauss Industries.

AMG Resources and its affiliates operate 20 scrap processing facilities and 18 trading offices, predominantly in the United States but also with a location in Wales in the United Kingdom.