IMCO Establishes Joint Venture with Mexican Firm

IMCO Recycling Inc. has created a joint venture with Reciclaje y Maquila, S.A. de C.V. The joint venture, in which IMCO has a majority interest, is recycling aluminum drosses and other scrap under a contract with NEMAK, S.A., Monterrey, Mexico.

Don Ingram, IMCO's chairman and CEO, said the Mexican project "is an important element in our strategy to expand into the fast-growing Latin American transportation market. We are particularly pleased to add NEMAK, S.A. to our group of major customers, and to begin IMCO's participation in the dynamic Mexican auto industry.”

The joint venture is known as IMCO Reciclaje de Nuevo Leon S. de R.L. de C.V. The first phase of its production facility, which began this past October, is located adjacent to the NEMAK plant. The facility will have a rated annual capacity of 100 million pounds and can be readily expanded as additional business is developed. The joint venture is planning to equip the Monterrey plant with molten metal delivery capability.