Carolinas Recycling Group has announced that it has taken over three of Omnisource Corp.’s three operations in the Southeast, bringing to 11 the number of scrap facilities CRG owns and operates.
The three facilities include facilities located in Athens, Ga., and Spartanburg, S.C.
The deal is expected to close by the end of this month. The three new facilities, which handle both ferrous and nonferrous metals, will be managed by CRG. The newly acquired facilities include on automobile shredder.
Marvin Siegel, president and CEO of CRG will continue as the head of the company. The company had sales of $150 million last year. It processed around 650,000 tons of ferrous scrap and 100 million pounds of nonferrous scrap last year.
Danny Rifkin of Omnisource will be chairman of the board.
Siegel notes that having Omnisource as an interested party in the recently expanded company is a tremendous benefit to the company. “It will be nice to have them as a partner and a resource,” Siegel says.
Siegel notes that “The new Southeast locations will become an integral part of CRG, and our association with OmniSource will enhance our ability to continue our growth while achieving a higher level of customer service and quality.”
CRG was created through the merger of four different companies and the acquisition of a fifth company.