ROCA operates metals recycling business covering ferrous as well as nonferrous scrap metals.
SEATTLE (Scrap Monster): Fort Wayne, Indiana-headquartered Steel Dynamics, Inc. (SDI) announced that it has completed previously announced acquisition of equity interest in Monterrey, Mexico-based metals recycling company, ROCA ACERO S.A de C.V. The acquisition was fully funded with available cash.
ROCA operates metals recycling business covering ferrous as well as nonferrous scrap metals. It comprises of five scrap processing facilities located throughout Central and Northern Mexico. These facilities together account for annual shipments of approximately 575,000 gross tons of scrap, with a combined annual processing capacity of around 850,000 gross tons. The acquisition will boost SDI’s overall processing capability of Mexican metals recycling business to over 2.5 million gross tons.
Mark D. Millett, Chairman, President, and Chief Executive Officer, SDI welcomed the ROCA team into the Steel Dynamics and OmniSource Mexico families to further solidify its growth strategy. The addition of ROCA will significantly strengthen its ferrous and nonferrous raw material procurement strategy in the region. The Mexican recycling facilities will provide a meaningful advantage to its EAF steel operations and planned aluminum flat rolled products operations, he added.
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