Trademark Metals Recycling (TMR), wholly owned by The David J. Joseph Co. (DJJ), headquartered in Cincinnati, has purchased the assets and business of OneSteel Recycling Inc.’s Tampa, Fla.-area scrap metal recycling facilities. The operations include a shredder facility and a deep-water export site on approximately 11.5 acres at the Port of Tampa. In addition to the port facility, OneSteel’s other Tampa-area locations acquired by TMR are in Seffner, Clearwater and Hudson.
Before completing the deal, TMR, headquartered in Tampa, had to make sure that the Port of Tampa Bay would approve the transfer of the lease from OneSteel to TMR. The lease expires May 14, 2017, and has two extension options of 10 years each.
The staff of the Port Tampa Bay reviewed the assignment of lease conditions with OneSteel and TMR and negotiated the terms and conditions of a consent to the proposed assignment of the lease to TMR, which currently leases other lands from the port.
The consent to assignment of the lease provides that the terms shall remain the same. In addition, the consent provides neither OneSteel nor Trademark will be released from any liability under the lease. The port notes that OneSteel is current with the port on its monetary obligations under the lease as of April 1, 2014.
TMR says the purchase of the OneSteel Recycling assets is consistent with the company’s strategy to strengthen its presence in the Tampa region and demonstrates DJJ’s commitment to expanding its existing regional recycling platforms. With the acquisition, TMR now has 30 recycling facilities in Florida and Georgia.
DJJ is a subsidiary of the steel company Nucor, Charlotte, N.C.