Scrap Industry News

Members of the Gulf Coast Chapter of the Institute of Scrap Recycling Industries Inc. (ISRI) gather June 16-18 in Grapevine, Texas, for the group’s annual convention and exhibition.

Several noteworthy speakers have been invited to this year’s event, which is at the Gaylord Texan Resort and Convention Center, billed as a "luxury resort [with] three Texas-themed indoor atriums, restaurants, shops, clubs and numerous indoor/outdoor activities."

Caterpillar Inc. Vice President Gerald Palmer addresses attendees Friday, June 17, as does former broadcast journalist and current motivational speaker Vicki Hitzges. Thursday, a number of ISRI staff members offer presentations on programs and efforts underway by ISRI at the national level. Additionally, David J. Joseph Co. President and CEO Keith B. Grass moderates an industry dialog session.

Saturday, June 18, more than half a dozen speakers are scheduled, including Nucor Corp. Executive Vice President John Ferriola; Keywell Executive Vice President Philip Rosenberg; Manitoba Corp. President Brian Shine; E.L. Harvey & Sons owner Ben Harvey; and Aleris Rolled Products Division President John Wasz.

Social and networking opportunities include the Thursday golf tournament and clambake, the Friday opening reception and dinner buffet and breakfast, lunch and evening banquet events Saturday.

More information, including a downloadable registration form, can be found online at www.gulfisri.com.

American Metal and Iron (AMI), a 101-year-old scrap company based in San Jose, Calif., has purchased the assets of a competing San Jose scrap firm.

AMI has acquired Metal Brokers, previously owned and operated by Richard Morgan. "Metal Brokers was a respected industry ally looking for an exit strategy," AMI Chairman Howard Misle says. "We saw the opportunity, quoted a fair price, all parties were in agreement, and we bought the company."

Misle says he expects to fold Metal Brokers into AMI, maintaining the customer base by providing "the same excellent service" that Metal Brokers provided.

Misle says AMI may grow further. "I expect considerable future expansion, acquisitions and mergers in an effort to continue to grow this company."

Founded in 1904 and formerly known as City Metals, AMI offers an array of recycling service for metals, plastics, glass and electronic scrap, including the handling of cathode ray tubes (CRTs) within computer and TV monitors.

Misle purchased the former City Metals in 1994 and renamed it American Metal and Iron. In the past 11 years, AMI has developed Asset Services and Liquidators Company (ASL) in 1997 and acquired Dimond Metals in 2000. AMI also opened a processing plant in Mexico in 2001.

North American Stainless plans to add a new electric arc furnace at its Ghent, Ky., facility. The project represents a $50 million investment and is expected to be completed by October 2006.

The company is taking advantage of a statewide program offering recycling tax credits to modernize operations in Kentucky. The Kentucky General Assembly created the tax modernization program through Hose Bill 272, which was signed ito law by Kentucky Gov. Ernie Fletcher in March of this year.

According to published reports, the tax credit being offered could reach as much as $25 million throughout 10 years. The credit is geared to major recycling projects that involve an investment of more than $10 million, and the facility itself must have a value of more than $500 million.

"One of the goals of my JOBS For Kentucky tax modernization plan is to make the commonwealth a more attractive place to do business," Fletcher says. "I want to thank North American Stainless for this investment and the confidence they continue to place in the commonwealth."

By using its existing furnace on a standby basis and replacing it with a newer, more modern furnace for primary production, North American Stainless expects to improve its scrap metal recycling capabilities and increase overall melting efficiencies, a release from the company states.

Acerinox SA of Madrid, Spain, owns North American Stainless. Acerinox operates a group of some 30 subsidiaries engaged in manufacturing and distributing stainless steel.