Camden Iron, Smith Industries Form Joint Venture

Camden Iron & Metal LLC, a subsidiary of European Metal Recycling, and Smith Industries have undertaken a transaction between Camden Iron and Smith Industries which will grow the two company’s operations in the eastern United States.

Under the terms of the deal a holding company, EMR/Smith Industries LLC, has been formed which owns both Camden and Smith Industries. The holding company is jointly owned by EMR and Paul Smith, the previous sole owner of Smith Industries. No further terms of the transaction have been announced.

Both Camden and Smith Industries engage in the business of collecting, processing and selling ferrous and non-ferrous scrap metal, together operating 20 metal recycling yards in the Mid-Atlantic region.

"We are delighted to combine our Camden operation with that of Smith Industries - a business that we have held in high regard for a number of years,” said Colin Iles, EMR’s CEO. “We look forward to working with Paul Smith and his management team to further expand our collective activities."

"This transaction represents the next age of growth for Smith Industries, and combines two operations with very similar cultures and ambitions," said Paul Smith, CEO and president of Smith Industries.

EMR, one of the largest scrap metal recycling firms in the world, operates more than 120 locations throughout the world. Over the past several years the company has taken a much larger presence in the United States.

Smith Industries, based in Capitol Heights, Md., operates 13 metals recycling facilities in Maryland, Delaware and Virginia. The company operates shredders in Capitol Heights and Baltimore.