Steel producer Nucor Corp. agreed to buy nearly all the assets of Metal Recycling Services (MRS) for an undisclosed amount. MRS, based in Monroe, N.C., operates a full-service processing facility that includes an automobile shredder and two North Carolina feeder yards. MRS expects to process 220,000 tons of scrap annually. The acquisition is expected to close in 30 days.
Upon completion of the acquisition, MRS will become part of Nucor’s wholly owned subsidiary, The David J. Joseph Co. (DJJ). DJJ is expected to close a transaction with Galamba Metals Group by April 1, 2008. Galamba Metals Group operates 16 full-service scrap-processing facilities (including two automobile shredders) in Kansas, Missouri and Arkansas.
Nucor to Acquire Recycler
March 20, 2008