Company’s Liberty Iron joint venture adds Ohio and Pa. facilities to its portfolio.
Germany’s Scholz AG, through its Liberty Iron & Metal Holdings LLC joint venture, has announced another joint venture in Ohio and Pennsylvania called LNM Holdings LLC.
Through the new arrangement, Scholz and Liberty have taken equity positions in Mercer Co., with operations in Sharon, Pa., and Girard, Ohio, and in Niles Iron & Metal LLC, which operates two facilities in Niles, Ohio.
According to a Scholz news release, Fred Knox of Mercer Co. and Gary and Michael Clayman of Niles Iron & Metal will maintain equity positions with the newly formed LNM Holdings LLC.
Scholz AG, based in Essingen, Germany, and Liberty Iron & Metal had previously joined forces in July of 2007 by setting up the joint venture that operates scrap recycling facilities in Buffalo and Rochester, N.Y.; Erie, Pa., and in Phoenix, Ariz.
Now operating nine yards in four states, Liberty Iron & Metal Holdings’ principals “believe the new joint venture will strengthen the group’s marketing and processing capabilities,” according to a corporate news release. “In addition to shredder capabilities, the group also operates one of the largest shears in the country as well as numerous smaller shears, balers and nonferrous recycling operations,” states the release.
More information on Liberty Iron & Metal Holdings can be found on the Web at www.libertyiron.com.