American Zinc Recycling Corp. (AZR), Pittsburgh, has announced the entry into a $100 million committed equity facility with its major investors. AZR also has announced that it has entered into an amended credit agreement between the company and a group of banks led by the Bank of Montreal. AZR is a provider of environmental services to the steel industry and is owned by American Zinc Recycling LLC, which employs about 750 people and operates six facilities throughout the U.S.
“We are pleased by the confidence shown in our company by our investors and our lenders,” says Rodrigo Daud, CEO of American Zinc Recycling Corp. “This strong financial backing will further strengthen our position as the largest recycler of electric arc furnace dust in North America.”
In addition, AZR confirmed that the repairs to the zinc metal refinery in Mooresboro remain on schedule and are anticipated to be fully funded through insurance proceeds and the equity facility. The restart is expected to occur in the first quarter of 2020.
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