Interseroh Takes Stake in ProTrade

The German firm Interseroh has exercised its option to acquire a 25 percent share in ProTrade Group LLC, a Hudson, Ohio-based scrap metal trading firm. The announcement follows last year’s agreement between the two companies whereby, giving Interseroh a 75 percent stake in the company.

The move will allow Interseroh's steel and metals recycling segment to enter the US steel scrap market with a volume of about 60 million tons per year.

For the recycling activities clustered in the ProTrade Group, the investment means a strengthening of its own financial power to further expand its position in the United States as well as a continuous transfer of know-how in the fields of production, technology and environment.

Over the past several years ProTrade has expanded its business to include a number of production sites for treatment and processing of materials. Included in the new sites is a WEEE treatment plant in Florida and two shredders in the Midwest as well as several trading offices in both the Midwest and East Cost.

"With this acquisition, Interseroh gains access to the U.S. scrap market. Due to the dimensions of this market, decisions setting the trend for the market itself and for the pricing in the steel and metal scrap sector are often taken here," said Interseroh's CEO Johannes-Jurgen Albus.

"Interseroh will further pursue its internationalization," said Albus.

Jack Kessick, CEO of ProTrade, sees many advantages in the alliance with Interseroh: "Already today, after less than a year of highly constructive cooperation, we are benefiting from this leading European company. Interseroh enables us to realize the growth we are aiming for. With regard to production and environmental protection, we count on the German expertise in order to further optimize our processes and to support their effect on sustainability."

Interseroh Group, with more than 70 locations in Germany and Europe, has involved in a range of activities, including collection, transportation, treatment and recycling of empty packaging, end-of-life products and scrap metals in several European countries. The company adds that around 50 sites are at present part of the steel and metals recycling segment of the group, active predominantly in Germany, Poland and the Netherlands. This division handled roughly 3.5 million tons of scrap metal last year, making it one of the three largest ferrous scrap recyclers in Germany, as well as one of the top three largest non-ferrous scrap traders in Europe.

The activities of this segment are managed by Interseroh Hansa Recyling GmbH in Dortmund.