Steel company owns and operates 15 scrap metal recycling facilities in Mexico.
DEACERO S.A. de C.V., based in Monterrey, Mexico, has announced that its DEACERO USA Inc., subsidiary has acquired Mid-Continent Nail Corp.
DEACERO is owned by Raul, Sergio and David Gutierrez. Mid-Continent Nail Corp., owned by David and Doug Libla, is located in Poplar Bluff, Mo.
DEACERO, founded in 1952, is involved in scrap processing, steel production and mesh and wire products manufacturing. The company has a presence in more than 20 countries in the Americas and Europe. In the area of scrap processing, DEACERO processes more than 3 million tons of ferrous and nonferrous scrap per year at 15 processing plants it operates in Mexico. The company operates three steel mills in Mexico that contain four furnaces and 7 rolling mills. In total the company produces 4.5 million tons per year of steel products.
DEACERO also operates 16 wire plants, including three in the United States, which are capable of producing more than one million tons per year of steel wire.
Mid Continent, a family-owned company since 1987, is one of the largest nail producers in the United States. The acquisition became effective Feb. 23, 2012. Mid Continent Nail’s name will change to Mid Continent Steel and Wire Inc. David Libla will continue as president and CEO of the new division.
According to Raul Guiterrez, the company hopes to increase its production capacity to 100,000 tons per year, roughly a 40-percent increase from its present capacity.