Deal includes a plastics recycling facility.
Commercial Metals Co., headquartered in Irving, Texas, has closed the previously announced purchase of substantially all the operating assets of Yonack Iron & Metal Co. and Metallic Industries, LLC.
The acquisition includes the operating assets of two affiliates, Yonack Services, Inc. and Plastex International, Inc. Yonack operates scrap metal processing facilities in Dallas and Forney, Texas; Stroud, Okla.; and Lonoke, Ark. Plastex is a recycler of plastic scrap with operations in Grand Prairie, Texas. The facilities will operate as part of the Recycling segment of Commercial Metals Company under the CMC Recycling name.
Bob Yonack, president and sole shareholder of Yonack, will serve in a consulting capacity to CMCR.
Murray R. McClean, president and CEO of CMC said, "This acquisition is an excellent fit with our existing metals recycling facilities located in the area. We anticipate monthly generation of up to 18,000 tons of ferrous scrap and 4,000 tons of nonferrous scrap. We expect this acquisition to offer continuing opportunities for revenue gains and cost savings as we fully integrate the operations."
Alan Postel, president of CMC Recycling, added, "We look forward to working together to expand the business and build on Yonack's history of outstanding customer service. The Plastex acquisition is our entry into plastic recycling."