Gerdau Ameristeel Announces Acquisition of Metro Recycling
10/28/2008 - Gerdau Ameristeel announces its acquisition of Metro Recycling, a scrap processor headquartered in Guelph, Ont.
Gerdau Ameristeel has acquired Metro Recycling, a scrap processor headquartered in Guelph,
Ont. Terms of the transaction were not disclosed.
"Metro's operations and experienced leadership team will enhance Gerdau Ameristeel's continuing strategy to grow our scrap processing capability throughout North America," said Matt Yeatman, Gerdau Ameristeel's Vice President of Raw Materials.
Metro Recycling specializes in servicing industrially generated scrap metal through its facilities in Guelph and Mississauga, Ont. In addition to ferrous and nonferrous scrap handling, the company also offers logistics services, as well as Laboratory metals testing, brokerage, and recycling and disposal of other materials.
"Metro is an excellent complement to our existing recycling and production facilities," concluded Yeatman.
Gerdau Ameristeel is the second-largest minimill steel producer in North America with annual manufacturing capacity of approximately 12 million tons of mill-finished steel products. Through its vertically integrated network of 19 mini-mills (including one 50% owned joint-venture minimill), 22 scrap recycling facilities and 66 downstream operations, Gerdau Ameristeel serves customers throughout the United States and Canada. The company's products are generally sold to steel service centers, steel producers, or directly to original equipment manufacturers for use in a wide variety of industries. Gerdau Ameristeel's majority shareholder is the Gerdau Group, a 100+ year old steel company, the largest producer of long steel products in the Americas and the world leader in specialty long steel for the automotive industry.
