Also, the acquired facility has a processing capacity of approximately 55,000 tons of ferrous and nonferrous scrap materials per year.
SEATTLE (Scrap Monster): Irving, Texas – based Commercial Metals Company (CMC) announced that it has completed acquisition of a Galveston area metals recycling facility and related assets from Owensboro, Kentucky-based Kodiak Resources Inc. and Kodiak Properties LLC.
The acquisition covers Kodiak’s metals recycling facility and related assets in Dickinson, Texas. It must be noted that Kodiak owns and operates scrap metal warehouses in Houston, TX; Toledo, OH and New Orleans, LA. According to company website, Kodiak Metals Recycling is one of the fastest growing metals recycling companies in Texas. Also, the acquired facility has a processing capacity of approximately 55,000 tons of ferrous and nonferrous scrap materials per year.
According to CMC press release, the transaction is expected to significantly increase the security and supply of competitively priced inputs to its steelmaking operations, especially to its long steel products mills, which are considered as the primary consumers of obsolete ferrous scrap grades.
Earlier in September this year, CMC had announced acquisition of Advanced Steel Recovery, LLC (ASR) – a South California-based leading supplier of recycled ferrous metals, as part of its strategic expansion plans.
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