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Schnitzer Steel Acquires SOS Metals Island Recycling of Maui, Hawaii
09/23/2010 - Schnitzer Steel Industries has acquired substantially all of the assets of SOS Metals Island Recycling of Maui, Hawaii.
Schnitzer Steel Industries, Inc. has acquired substantially all of the assets of SOS Metals Island Recycling of Maui, Hawaii. Terms of the transaction were not disclosed.
"Schnitzer Steel's longstanding commitment to Hawaii has contributed greatly to the diversity of our global platform, both in terms of supply and distribution," said Schnitzer Steel CEO Tamara Lundgren. "This transaction continues our strategy of expanding our metals recycling business in order to better serve our customers throughout the world."
Started up in 2005 by brothers Sandy and Don Hamaker, SOS Metals Island Recycling has been collecting, processing and recycling scrap metal from the Maui community for nearly five years at its current location. The site included a 12,000 square-foot enclosed warehouse, a high-speed auto bailer (car crusher) and an Envirorac System, which is used to safely separate fluids from old vehicles.
"SOS Metals Island Recycling is a leading supplier of ferrous and nonferrous materials, which strengthens our operations in Maui and all of the Hawaiian Islands," said Don Hamaker, President of Schnitzer Steel's Metals Recycling Business. "We welcome the hardworking employees of SOS Metals Island Recycling to our Schnitzer Steel family and look forward to developing an even closer bond with the Maui community."
"We will continue to be a household name for recycling in Maui," said Sandy Shadrow, President of SOS Metals Island Recycling. "Schnitzer Steel and our employees remain committed along with our neighbors and leaders to keeping our beautiful island of Maui clean."
Schnitzer Steel Industries, Inc., one of the largest manufacturers and exporters of recycled ferrous metal products in the United States, operates 43 facilities located in 13 states and Puerto Rico, including seven export facilities located on both the East and West coasts as well as in Oahu, Hawaii and Puerto Rico. The company's vertically integrated operating platform also includes its auto parts and steel manufacturing businesses. With an effective annual production capacity of approximately 800,000 tons, the company's steel manufacturing business — Cascade Steel Rolling Mills — produces finished steel products, including rebar, wire rod and other specialty products. The company commences its 105th year of operations in fiscal 2011.
