AMG Resources buys stake in stainless recycler

Pittsburgh-based AMG Resources Corp. has announced its affiliate’s acquisition of a 50 percent interest in Allegheny Raw Materials LLC (ARM), a processor and marketer of stainless steel, alloys and other specialty scrap metal products.

“Allegheny Raw Materials has an unmatched reputation in the scrap industry for delivering value-added products and services to its specialty customers and will be a tremendous complement to AMG, which has a strong focus on supplying known-analysis scrap and other specialty products,” says Eric Goldstein, president of AMG Resources. “This transaction will strengthen both ARM and AMG and enable both to better serve their customer bases.”

Allegheny Raw Materials, also based in Pittsburgh, operates five scrap processing facilities in western Pennsylvania as well as a ferrous and nonferrous scrap brokerage business. In addition, Allegheny Raw Materials’ mill services division develops and delivers specialty blends and optimized least-cost charges and performs on-site processing, handling and testing services for specialty steelmakers.

“Aligning with AMG, which is renowned for its national and international marketing capabilities and particular expertise in servicing specialty scrap markets, will enable Allegheny Raw Materials to further grow its processing, brokerage and mill service businesses and to better serve its customers,” says Damian Eonta, president of Allegheny Raw Materials.

With the completion of the transaction, AMG and its affiliates now operate 17 scrap processing facilities and 17 commercial offices in the United States and United Kingdom. AMG also is a marketer of prime and secondary steel in the United States and internationally and, through its International Steel & Counterweights affiliate, manufactures counterweights and other steel fabrications for a variety of applications.