PNW Metal Recycling receives financial backing

Clackamas, Oregon-based PNW Metal Recycling Inc. has brought on a new shareholder: Tokyo-based Itochu Metals Corp. (IMC).

“PNW and IMC have been doing business since the merger of Rivergate Scrap Metals and R.S. Davis Recycling in 2017," says PNW, which was founded and led by members of the Daoud, Doane and Bors families. "In the past six-plus years, the two firms have conducted many successful ferrous bulk cargo transactions that helped expand each company’s footprint in the international market of metal commodities.

“For the last 10 years, PNW has been on a strong growth trajectory in the Pacific Northwest region by creating better material, marketing opportunities, investing in industry-leading technologies and expanding its footprint in the region.”

The firm says it sees the alliance with Itochu as a means of advancing that growth. “Together, this strategic alliance will forge a new path of growth in the recycling industry,” PNW says as part of its announcement.

“The aligned strategic success is very exciting [for] the two firms, and both believe in the same growth path that PNW started on many years ago. PNW’s current management team will remain in place. PNW is excited to bring IMC’s experience aboard to build on its first decade of success while being poised for further growth into the future.”

As of 2020, when it was profiled by Recycling Today, PNW operated an auto shredder and downstream system in Portland, Oregon, and a wire chopping line in that same city. PNW also has a bulk ferrous scrap export terminal in Longview, Washington, and operates other processing equipment in Clackamas, Gresham, Hermiston and Portland in Oregon and in Longview.

In 2021, PNW acquired Bert’s Auto Wrecking in Hermiston, Oregon, and the following year it acquired Mayflower Metals Inc. of Prosser, Washington.

IMC operates from several offices in Japan and has a global network of offices, including locations in: New York; Washington; Vancouver; Mexico City; Houston; Portland, Oregon; and Menlo Park, California.