CMA Corp. Ltd. has announced it is acquiring Mann Metals Pty Ltd., which is based in Queensland, Australia.
Mann Metals, which operates as Bayside Scrap Metal Industries, operates two facilities in the Brisbane, Australia area. It also has metals recycling operations in several other countries, and has an established trading arrangement with scrap suppliers in other regions outside Australia.
The deal is expected to be complete by the end of this month.
"Mann Metals has quickly built a substantial position in the fast-growing Queensland market where we anticipate continued strong growth for the foreseeable future on the back of the state's infrastructure, property and mining activity," said Peter Hatfull, CMA’s managing director.
"We also see great potential in Mann Metals' trading relationships with recyclers in a number of offshore markets, with good supply pipelines established and growing."