International Environmental Management signed a letter of intent to purchase the assets of Martini Metals, including its recycling business, as well as real estate from William Martini and Martini Properties. The acquisition is expected to be complete within 90 days.
IEMI is headquartered in Hollywood, Fla.
The revenue from the acquisition of Martini Metals will more than double the size of IEMI. Further, the acquisition will give IEMI a presence in several other regions of southernFlorida.
``The acquisition of Martini Metals follows the goals set forth in the IEMI business plan. Martini Metals has been in the same location in southeastern Palm Beach County for over 15 years and Martini has established an excellent retail recycling operation,''said Harold Solomon, president and CEO of IEMI. ``They also have industrial, commercial pickup services available and over the years have established anoutstanding rapport with their industrial commercial accounts,'' Solomon added.
``Martini Metals is a perfect fit and its reputation will not only enhance IEMI's core business, but will help IEMI's plan to become a regional presence,'' concluded Solomon.
Latest from Recycling Today
- 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
- Oregon county expands options for hard-to-recycling items
