Newly formed company will open a scrap metal recycling facility in eastern Texas.
The chief executive officers of Proler Steel International and Newell Joint Venture Investments L.P. have formed a joint operation called Proler-Newell Recycling L.P. The newly created joint venture will open a full service metals recycling company in east Texas.
According to the two companies, the collaboration has been in the planning and development stages for several months and will provide full service purchasing, processing and shipping capabilities for both ferrous and non-ferrous metals.
In a joint statement, Cristopher Proler, CEO of Proler Steel International, and John Newell, CEO of Newell Joint Ventures, say, “It is an honor to join forces and bridge the families’ storied past. We are excited to get started and provide a high level of service to our customers and a great product for our end users.”
Development of the site is expected to begin in the fourth quarter of 2012 and is slated to be operational by early 2013. Proler says that the JV is presently negotiating on a site in the Houston area. He estimates that the property being looked at is around 30 acres. “It will be a full service recycling facility with inbound and outbound scales, a nonferrous baler and shears,” Proler says. Additionally, the company is considering the possibility of adding an auto shredder down the road, depending on market conditions.
Proler says that from a strategic standpoint there is a significant amount of scrap generated in the eastern part of Texas. Additionally, the new location will be close to steel mills and foundries that the company will be servicing.