USA: Steel Producer Bought Mexican Metals Recycling Company
Steel Dynamics, Inc., one of the largest steel producers and metals recyclers in the United States, has announced the completed acquisition of Mexican company Zimmer, S.A. de C.V. as part of its raw material procurement strategy to support its new Texas flat roll steel mill, which is planned to begin operations mid-year 2021.
The transaction was funded with available cash. As reported, Zimmer is headquartered in Monterrey and operates a ferrous and nonferrous scrap metals recycling business.
The company’s primary operations were comprised of six scrap processing facilities strategically positioned near high-volume industrial scrap sources located throughout Central and Northern Mexico. The company also operates several third-party scrap processing locations. “These combined facilities currently ship approximately 500,000 gross tons of scrap annually and have an estimated annual processing capability of two million gross tons,” Steel Dynamics gave account.
(GR32020, Page 10, Photo: Harald Heinritz / abfallbild.de)
