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Sims Metal Management Acquires Full Ownership of Stevedoring JV
11/18/2009
Facility had been a 50/50 joint venture with Donjon Marine
Sims Metal Management Ltd. has acquired the remaining ownership interest of its joint venture Port Albany Ventures, LLC in Bethlehem, N.Y. PAV is a mixed-use bulk material stevedoring operation located on the Hudson River.
The 28 acre dock facility, previously a 50/50 joint venture between a Sims Metal Management subsidiary and Donjon Marine Co., Inc., is a mixed-use stevedore operation handling scrap metal, salt and other bulk commodities. Sims Metal Management ships scrap metal from the Upper Hudson Valley Region directly to export markets or to its Jersey City, N.J. facility for further processing.
In addition to its core recycling business SMM is the largest mixed-use bulk material stevedoring company on the East Coast of the United States.