According to a news story in the Ottawa Business Journal, ArcelorMittal, one of the world's largest steel company, has bought local scrap metal recycling company Bakermet.
The company, which has a 10-acre facility on Sheffield Road and processes an average of more than 200,000 tons of scrap metal per year, will be used to supply materials such as 'shredded metal' to Luxembourg-based ArcelorMittal's Contrecoeur mill near Montreal.
Bakermet's management team will stay on with the company, says ArcelorMittal Long Carbon North America CEO Jos Jacque in a statement.
ArcelorMittal said Bakermet processed approximately 130,000 short tons of ferrous metals and 40 million pounds of nonferrous metals last year.
Financial terms of the deal were not disclosed.
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