ELG Utica Alloys Inc., Utica, N.Y., has acquired Metal Management Aerospace Inc. (MMA) from Sims Metal Management Ltd. (SMM), New York.
ELG Utica Alloys specializes in the recycling of titanium, super alloys and high temperature metals. MMA, which was based in Hartford, Conn., was a subsidiary of SMM’s North America Metals business. In opting to sell the division, SMM says the division was determined to be non-core because of the unique aspects of its processing capabilities and associated commodities.
According to an SMM news release, "The sale terms have not been disclosed and are not considered material to [SMM]. A pre-tax loss of about $9 million is expected to be recognized by [SMM] in relation to the transaction."
Latest from Recycling Today
- US Steel to restart Illinois blast furnace
- AISI, Aluminum Association cite USMCA triangular trading concerns
- Nucor names new president
- DOE rare earths funding is open to recyclers
- Design for Recycling Resolution introduced
- PetStar PET recycling plant expands
- Iron Bull addresses scrap handling needs with custom hoppers
- REgroup, CP Group to build advanced MRF in Nova Scotia
